Pakistan has increased imports of vegetable oil by 42% over the past 3 months
Refined Soybean Oil
Published Sep 29, 2023
Tridge summary
In the period from June to August 2022, Pakistan imported 907 thousand tons of vegetable oil, which is a 42% increase compared to the same period last year. The increase in oil imports is due to a decline in domestic soybean oil production caused by a slowdown in soybean imports. Since October 2022, Pakistan has imported a total of 3.14 million tons of vegetable oil, with palm oil being the most purchased due to strong domestic demand and competitive prices.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
According to Oil World (Germany), in the period from June to August of this year. Pakistan imported 907 thousand tons of vegetable oil, which is 42% higher than the corresponding figure for 2022. Including, 808 thousand tons of palm oil were purchased (in June-August 2022 - 566 thousand tons), 69 thousand tons (unchanged) of soybean oil, 23 (4) thousand tons of sunflower (mainly from Argentina) and 7 (0) thousand tons – rapeseed (from the EU and UAE). The rising oil imports are the result of a sharp decline in the country's domestic soybean oil production as Pakistan's soybean imports have slowed in recent months due to the lack of a legal framework for procurement of GM oilseeds. Since the start of MY 2022/23 (October-August), Pakistan has imported a total of 3.14 million tonnes of vegetable oil, up 18% from the unusually low level in the 11 months of MY 2021/22. In particular, palm oil purchases increased to 2.88 ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.