ISLAMABAD: Imports of palm and soybean oil have recorded an annual increase in the first 11 months of the current financial year.
According to statistics and State Bank data, the volume of palm oil imports in the period from July to May was recorded at 3.172 billion dollars, which is 4 percent more than the same period of the previous financial year.
In the last financial year, foreign exchange was spent on palm oil imports of 3.059 billion dollars, in May foreign exchange was spent on palm oil imports of 327.70 million dollars, which was 217.87 million dollars in April and 265.21 million dollars in May last year.
In the year 2022, foreign exchange of 3.151 billion dollars was spent on palm oil imports. According to the statistics, in the first 11 months of the current financial year, 278.46 million dollars of foreign exchange was spent on soybean oil imports, which is 28% more than the same period of the previous financial year.
In the same period of the previous financial year, the volume of soybean oil imports was 217. 69 million dollars was recorded, the foreign exchange spent on imports of soybean oil in May was 28.83 million dollars compared to 16.83 million dollars in April and 94.13 million dollars in May last year.
Soybean oil imports accounted for $238.96 million in foreign exchange in fiscal year 2022. Additionally, car imports recorded a 54 percent year-on-year decline in the first 11 months of the current fiscal year.
