Soyabean import decreases by 42.15%, palm increases 63.35% in two months

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ISLAMABAD, Sep 30 : Soyabean oil import into the country during first two months of current financial year reduced by 42.15% as compared the imports of the corresponding period of last year.

During the period from July-August, 2021 about 14,012 metric tons of soyabean costing $16.589 million imported to fulfill the local requirements of edible oil as against the import of 43,450 metric tons valuing $28.691 million of same period of last year.

However, imports of palm oil into the country during the period under review witnessed about 63.35% growth as 510,944 metric ton palm oil valuing $577.022 million imported against the import of 585233 metric tons worth $352.729 million of first two months of last year.

On month on month basis, the import of soyabean into the country decreased by 63.84% in August, 2021 as 3,902 metric tons of above mentioned commodity valuing $4.503 million imported as compared to the imports of 18,925 metric tons costing $12.453 million of same month of last year.

Meanwhile, palm oil import into the country during last month witnessed about 120 growth as 289,267 metric tons of palm oil valuing $322.005 million imported as compared the import of 24,618 metric tons costing $146.794 million of same month last year.

It is worth mentioning here that food group imports into the country during the month of August, 2021 observed about 82.89% increase as compared the same month of last year.

In last month, food commodities valuing $826.016 million imported, which were stood at $451.654 million in same month of last year.

During first two moths of current financial year (July-August), import of food witnessed 50.20% growth as food commodities valuing $1.473 billion imported as against the import of $980.964 billion of same period last year.