MARKET DEVELOPMENT
Soyabean Oil Imports Decrease By 4.11%, Palm Oil Increase 65.84% In Two-quarters
Soyabean Oil Imports Decrease By 4.11%, Palm Oil Increase 65.84% In Two-quarters
20.01.2022 (www.urdupoint.com) - ISLAMABAD, (UrduPoint / Pakistan Point News - 20th Jan, 2022 ) :The imports of soyabean oil into the country during firs-half of current financial year reduced by 4.11%, where as palm oil increased by 65.84% as compared the corresponding period of last year.
During the period from July-December, 2021, about 37,172 metric tons of soyabean oil valuing $46.328 million imported to fulfill the domestic requirements of edible as compared the import of 72,760 metric tons costing $48.313 million of same period last year, according the data of Pakistan Bureau of Statistics.
However, imports of palm oil into the country witnessed 65.84% growth as 1,855,199 metric tons of palm oil valuing $1.843 billion imported as against the imports of 1,629,768 metric tons worth $1.111 billion of same period of last year.
Meanwhile, country spent $346.065 million on the import of about 582,543 metric tons of pulses during last 06 months as compared the imports of $287.596 million of same period last year.
The imports of pulses into the country also recorded about 20.22% increase in first-half of current financial year as compared the corresponding period of last year.
The overall food group imports into the country also grew by 22.88% in first two-quarters of current financial year as compared with the imports of same period last year.
During the last six months food commodities worth $4.798 million were imported as compared to the imports of $3.905 billion of corresponding months of last year.
However, imports of food group on month on month basis decreased by 11.58% in December, 2021 as food items valuing $781.380 million were imported as against the imports of $885.963 million of the same month of last year.
Meanwhile, food group exports from the country during the first-half of current fiscal year increased by 22.28% as compared to the exports of the corresponding period of last year.
During the period from July-December, 2021, different food commodities including rice, vegetables, fruits, oil seeds, meat, fish, spices and others valuing $2.482 billion were exported against the exports of $2.030 billion of the same period last year.
During the period under review exports of rice grew by 10.73%, fish and fish preparation 3.19%, fruits and vegetable 11.135 and 14.30% respectively.
The other food commodities that registered positive growth in their respective exports included tobacco 37.40%, spices 26.67%, oil seeds, nuts 325.30%, meat and meat products 1.o5%.
Besides the exports of above mentioned commodities, the country also earned $434.510 million by exporting other food items as compared to the exports of $272.550 million of same period last year, it added.
On month on month basis, the exports of food group recorded about 8.57% increase in December, 2021 as against the same month of last year, whereas food commodities valuing 535.252 million exported as against $493.004 million of the same month of last year.