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Pakora Party for Palm Oil
Pakora Party for Palm Oil
11/07/2013 (Business Recorder) - If one had to take a guess at which Pakistani dish is most loved by Malaysians, BR Research would split its bet between Pakoras and Samosas. We would also venture so far as to contend that among our brethren in Malaysia, it is the palm oil exporters that probably love us most, especially around this time of year.
While the tastiness of Pakoras and Samosas is undeniable, the palm oil exporters have also got to love them for the fact that they are thoroughly drenched in cooking oil. Since these Pakistani entrees are served almost religiously throughout Ramazan, it is but natural that the love felt by those exporters for them, should also be oozing in the holy month.
Since FY08, about three-fourths of Pakistans palm oil needs have been met through imports from Malaysia, while a host of countries make up the remaining share. Thus an analysis of monthly imports from Malaysia reveals much about just how much cooking oil is gobbled down by Pakistanis in Ramazan.
"Ramazan means Pakoras, Samosas and a host of other deep fried dishes" quipped the spokesperson of Pakistan Vegetable Oil Manufacturers Association. Talking to BR Research, Umer Islam Khan contended that "demand for cooking oil doubles in the country during Ramazan."
Sure enough, data maintained by the Malaysian Palm Oil Board shows that exports to Pakistan spike just before Ramazan, each year. The only exception to this trend occurred in 2009. Importers explained that the price of palm oil had tanked just months earlier, thus encouraging Pakistani importers to stock up on the commodity earlier than the usual peak demand season.
True to form, this year imports of this vital ingredient for our beloved cooking oil witnessed a sharp month-on-month increase in May, followed by an equally sizeable import of XYZ metric tons in June. This import binge will facilitate the nations desire for thoroughly oil-drenched Iftars throughout the holy month, and also keep those Malaysian exporters waiting eagerly for the next Ramazan.
While the tastiness of Pakoras and Samosas is undeniable, the palm oil exporters have also got to love them for the fact that they are thoroughly drenched in cooking oil. Since these Pakistani entrees are served almost religiously throughout Ramazan, it is but natural that the love felt by those exporters for them, should also be oozing in the holy month.
Since FY08, about three-fourths of Pakistans palm oil needs have been met through imports from Malaysia, while a host of countries make up the remaining share. Thus an analysis of monthly imports from Malaysia reveals much about just how much cooking oil is gobbled down by Pakistanis in Ramazan.
"Ramazan means Pakoras, Samosas and a host of other deep fried dishes" quipped the spokesperson of Pakistan Vegetable Oil Manufacturers Association. Talking to BR Research, Umer Islam Khan contended that "demand for cooking oil doubles in the country during Ramazan."
Sure enough, data maintained by the Malaysian Palm Oil Board shows that exports to Pakistan spike just before Ramazan, each year. The only exception to this trend occurred in 2009. Importers explained that the price of palm oil had tanked just months earlier, thus encouraging Pakistani importers to stock up on the commodity earlier than the usual peak demand season.
True to form, this year imports of this vital ingredient for our beloved cooking oil witnessed a sharp month-on-month increase in May, followed by an equally sizeable import of XYZ metric tons in June. This import binge will facilitate the nations desire for thoroughly oil-drenched Iftars throughout the holy month, and also keep those Malaysian exporters waiting eagerly for the next Ramazan.