Food imports dip 19pc in July: SBP

ISLAMABAD: The food group imports into the country during the first month of the current financial year (2019-20) dipped by 19. 20 percent as compared the corresponding month of last year.

During the month of July 2019, the food commodities worth $361.091 million were imported against $446.943 million during the same month of last year, showing decline of 19.20 percent, according to the data issued by the State Bank of Pakistan.

During the period under review, milk and cream (including for infants) imports decreased by 35.47percent from $15.256 million to $23.645 million during the same month of last year.

During the first month of fiscal year 2019-20, dry fruits worth $0.568 million were imported against $0.564 million of same month of last year, showing growth of 0.70 percent.

Meanwhile, the import of tea witnessed decrease of 27.79 percent from $48.303 last year to $34.877 million in July 2019 whereas the import of spices increased by 15.45 percent by going up from $12.041 million to $13.902 million, the data revealed.

The imports of soya bean oil also grew by 266.63 percent from $3.555 million to $13.034 million while the import of palm oil witnessed decline of 29.77 percent by going down from $165.648 million to $116.330 million last year.

During first month of current financial year, the sugar and pulses costing $0.231 million and $38.012 million were also imported as against $0.329 million and $45.532 million of same month of last year, showing decrease of 29.78 percent and 16.51 percent respectively.

During the month of July, 2019, the import all other food items decreased by 12.50 percent from $147.305 million to $128.881 million, the data added.