Food imports dip 19pc in July: SBP

ISLAMABAD: The food group imports into the country during the first month of the current financial year (July-FY20) dipped by 19.20pc as compared to the corresponding month of last year.

During the month under review, food commodities worth $361.091 million were imported into the country as compared to $446.943 million worth of imports during the same month last year, according to the data issued by the State Bank of Pakistan.

The import of milk and cream (including for infants) decreased by 35.47pc, from $23.645 million in July FY19 to $15.256 million in July FY20.

Similarly, the import of tea witnessed a fall of 27.79pc, from $48.303 last year to $34.877 million during the period under review, while that of palm oil declined by 29.77pc, from $165.648 million to $116.330 million.

Dry fruit imports showed a nominal decrease of 0.70pc, as dry fruits worth $0.564 million were imported in July FY20, as against $0.568 million in July FY19.

Spices’ imports, however, increased by 15.45pc, as they went up from $12.041 million in July FY19 to $13.902 million in July FY20.

The imports of soya bean oil grew by a massive 266.63pc, from $3.555 million to $13.034 million.

During the first month of the current financial year, sugar and pulses worth $0.231 million and $38.012 million were imported, as against $0.329 million and $45.532 million worth of imports during the corresponding period of last year, showing a decline of 29.78pc and 16.51pc respectively.

The import of all other food items decreased by 12.50pc, from $147.305 million to $128.881 million.