10/10/2012 (Pakistan Observer) - The palm oil imports into the country witnessed decrease of 12.22 percent during the first two months of the current fiscal year as compared to the same period of last year.

The palm oil imports into the country during July-September (2012-131) were recorded at US$409.360 million against the imports of US$466.360 million during July-September (2011-12), according to the data of Pakistan Bureau of Statistics (PBS). However, on the other hand, the imports of soyabean oil increased by 22.23 percent during the period under review by going up from US$ 24.343 million to US$ 29.755 million.

In terms of quantity, the palm oil imports decreased by 1.65 percent while the imports of soyabean oil witnessed positive growth of 22.50 percent, the data revealed. During the month of August 2012, the imports of palm oil witnessed decrease of 0.80 percent and 57.38 percent as compared to the imports of August 2011 and July 2012 respectively.

The palm oil imports during August 2012 stood at US$ 198.856 million against the imports of US$ 199.918 million in August 2011 and US$ 211.035 million in July 2012.