Palm oil imports down 3.04pc in 11 months

ISLAMABAD: Palm oil import, during the eleven months of financial year 2015-16, reduced by 3.04 percent as compared to the corresponding period of last year.

According the Pakistan Bureau of Statistics (PBS) data issued Monday, during July-May 2016, about 2,520,323 metric tons of palm oil, valuing $1.54 billion was imported to fulfil the domestic requirements.

Palm oil import in the country was recorded at 2,118,533 tons, worth $1.59 billion in eleven months of the last fiscal, the PBS data showed.

Meanwhile, import of milk cream and milk food for infants also decreased by 5.46 percent in this period, as 75,004 tons was imported at $244.87 million compared to 80,480 tons valuing $259.011 million imported last fiscal.

Import of wheat also registered 100 percent decrease, as zero quantity of wheat was imported during the period under review.

It may be recalled that about 586,595 tons of wheat worth $185.43 million was imported during the same period last fiscal.

It may be recalled that overall food group import in the country registered an increase of 7.10 percent during the eleven months of last financial year as food commodities worth $4.873 billion were imported. The import of food group was recorded at $4.54 billion during July-May 2014-15.