03/04/2013 (Pakistan Observer) - Palm oil imports into the country witnessed negative growth of 12.42 percent during the first eight months of the current fiscal year as against the corresponding period of last year.

The country imported palm oil worth $1.411 billion during July-February (2012-13) against the imports of $1.611 billion during July-February (2011-12), according to the data of Pakistan Bureau of Statistic (PBS).

In Pak rupees term, the palm oil imports decreased 4.42 percent by going down from the imports of Rs.141,677 million last year to Rs.135,416 million in current year. On year-on-year basis, the imports of palm oil increased by 19.61 percent in February 2013 as compared to the same month of last year.

The palm oil imports in February 2013 stood at $201.493 million against the imports of $168.462 million during February 2012.

On month-on-month basis, the imports of palm oil increased by 8.42 percent in February 2013 when compared with the imports of $185.848 million recorded during January 2013, the data revealed. On the other hand, the imports of soyabean oil expanded 11.70 percent by going up from $41.825 million last year to $46.718 million during the ongoing year, the data revealed. Soyabean imports during February 2013 witnessed sharp decline of 95.19 percent and 98.73 percent when compared to the imports of February 2012 and January 2013 respectively.

The soyabean imports during February 2013 were recorded just at $31,000 against the imports of $0.644 million in February 2012 and $2.442 million in January 2013. Overall food imports during the first 8 months of the current fiscal year witnessed decrease of 11.68 percent by going down from $3.431 billion last year to $3.030 billion during the year under review.