Palm oil imports increase 34pc to $1.585b in 8 months


The palm oil imports into the country increased by 34.03 percent during the first eight months of the current fiscal year against the imports of the same period of last year.

The palm oil imports during July-February (2020-21) were recorded at $1585.381 million against the imports of $1182.899 million during July-February (2019-20), showing increase of 34.03 percent, according to latest data of Pakistan Bureau of Statistics (PBS).

In terms of quantity, Pakistan imported 2,167,242 metric tons of palm oil during the period under review as compared to the imports of 2,012,159 metric tons last year, showing increase of 7.71 percent.

On the other hand, the soyabean oil imports also increased by 7.49 percent by going up from $44.959 million last year to $48.325 during the current fiscal year.

In terms of quantity, the soyabean oil imports increased from 65,558 metric tons to 72,770 metric tons, showing an increase of 11 percent.—APP