Pakistan’s food group imports during the first quarter of the current financial year recorded an increase of 15.21 percent as compared to imports in the corresponding period of the previous financial year, WealthPK reports.

The country imported food commodities worth $2.723 billion in the first quarter of the current fiscal to fulfil domestic requirements as compared to imports of $2.346 billion in the corresponding period of the previous financial year.

During the first quarter of the ongoing fiscal, the import of wheat witnessed an increase of about 311.19 percent, soybean oil’s import grew by 265.68 percent and the import of palm oil surged by 27.45 percent, respectively, as compared to the import of these commodities in the corresponding period of the previous financial year.

On the other hand, the import of tea was reduced by 10 percent, spices by 45.39 percent and dry fruits by 24.97 percent, respectively, according to the data released by the Pakistan Bureau of Statistics.

The data shows that in the first quarter of the current fiscal, about 856,813 metric tonnes of wheat costing $408.653 million were imported against the import of 338,036 metric tonnes valuing $99.383 million in the corresponding period of the last year.

Meanwhile, 763,724 metric tonnes of palm oil costing $1.135 billion were imported for local consumption as compared to the import of 794,469 metric tonnes valuing $891.155 million in the same period of the previous financial year.

During the period under review, 47,025 metric tonnes of soybean oil valuing $77.745 million were imported against the import of 18,102 metric tonnes worth $21.260 million in the corresponding period of the previous financial year.

The food group exports from the country increased by 5.70 percent during the first three months of the current fiscal. Different food commodities worth $1.077 billion were exported in the first quarter of the current fiscal as compared to $1.019 billion in the corresponding period of the previous financial year, shows the data available with WealthPK.

Credit : Independent News Pakistan-WealthPk