Daily Times

Soyabean oil import into the country during the first two months of the current financial year reduced by 42.15pc as compared the imports of the corresponding period of last year.

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

However, imports of palm oil into the country during the period under review witnessed about 63.35pc growth as 510,944 metric tons of 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 monthly basis, the import of soybean into the country decreased by 63.84pc in August 2021 as 3,902 metric tons of the above-mentioned commodity valuing $4.503 million imported as compared to the imports of 18,925 metric tons costing $12.453 million of the same month of last year.

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

It is worth mentioning here that food group imports into the country during the month of August 2021 observed about 82.89pc increase as compared to the same month of last year. In last month, food commodities valuing $826.016 million imported, which were stood at $451.654 million in the same month of last year. During the first two months of the current financial year (July-August), the import of food witnessed 50.20pc growth as food commodities valuing $1.473 billion imported as against the import of $980.964 billion of the same period last year.