Import of palm oil plunges by 13 percent

Import of palm oil plunged by 13 percent to $1.228 billion in July-February 2013-14, according to official statistics. Palm oil import showed a fall of $183 million during July-February 2013-14 as compared to the oil import of $1. 411 billion in the same period last fiscal year, says Pakistan Bureau of Statistics (PBS).
According to the PBS, the volume of palm oil import slid by less than one percent or 5,629 metric tons to 1,496,650 metric tons in July-February 2013-14 from 1,502,279 metric tons in the same period in the last fiscal year. Import of soyabean oil went down by 20 percent or $9.352 million to $37.361 million in July-February 2013-14 from $46.713 million in the same period last fiscal year, the statistics indicated. In terms of quantity and import of soyabean oil, declined by 2.42 percent or 885 metric tons to 35,623 metric tons in July-February 2013-14 as compared to the oil import of 36,508 metric tons in the same period in the last fiscal year, it was further stated.