Pakistan’s wheat import witnesses 100 percent decline

ISLAMABAD: The wheat import into the country witnessed a drop of 100 per cent in the first month of the current fiscal year as compared to the imports of the corresponding month of last year.

According to Pakistan Bureau of Statistics (PBS) data, during the month of July 2023, wheat imports into the country remained zero as compared to the imports of 211,597 metric tons valuing $107.142 million in the same month of last financial year.

Meanwhile, the imports of edible oil including palm and soybean into the country during the first months of the current financial year decreased by 5.40 per cent and 6.82 per cent respectively as compared to the imports of the same month of the last year.

During the month of July 2023 about 12,575 metric tons of soybean costing $14.955 million were imported as against the import of 11,000 metric tons valuing 15.809 million of the period last year.

On the other hand, over 277,801 metric tons of palm oil worth $278.939, million was also imported in the first month of the current financial year to fulfil the local requirements of coking oil and vegetable ghee as compared to the imports of 194,081 metric tons valuing $299.395 million of the same month last year.

However, during the period under review, imports of sugar into the country grew by 20.09 per cent as 574 metric tons of sugar costing $593,000 were imported as against the imports of 550 metric tons valuing $449,000 of the same month last year.

It is worth mentioning here that during the first month of the current financial year food group imports into the country decreased by 18.13 per cent as food commodities worth $624.804 million were imported as compared to the imports of $763.134 million in the same month of last year.

In July 2023 food commodities valued at $329.156 million were exported as compared to the exports of $356.073 million of the same month last year, which was down by 7.56 per cent.

The exports during the month were recorded at $2.057 billion against $2.250 billion last year, showing a decline of 8.57 per cent. INP