19/06/2008 (The Post, Pakistan), Islamabad - Pakistan's palm oil crop has increased significantly in the year 2008, officials said.

"Because of the good crop, the palm oil import may decline by up to 10 percent in 2008. This is partly because of soaring international prices of the commodity", an official said. Pakistan last year imported 1.1 million of palm oil olein, 480,000 of crude palm oil, and 96,000 of soybean oil.

The country consumes about 3 million tonnes of edible oils a year, but produces only 500,000-800,000 tonnes of cottonseed, rapeseed and sunflower oil.

During January-May, Pakistan imported 750,000 tonnes of edible oil, including 475,000 tonnes of palm oil olein, 215,000 tonnes of crude palm oil and 30,000 tonnes of soybean oil, he said. Palm oil imports were expected to increase to 150,000 tonnes a month in July and August, compared with an average of 125,000 tonnes a month, because of higher demand in the holy month of Ramadan, which begins in early September, he said.