Pakistan has increased imports of vegetable oil by 42% over the past 3 months

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 ...