The crash of global pulses market widely helped Pakistan offset the rupee devaluation brunt, as the country's total commodity import reached $356.620 million in July-Feb 2018-19. Talking to Business Recorder on Wednesday, pulses importers said that global market collapsed over two years with low demand against high production of the commodity that eventually helped Pakistan to absorb the commodity's import bill burden. In term of value, the country pulses import has grown just 0.90 percent during this fiscal year, Pakistan Bureau of Statistics shows.
"Pakistan's total production is insufficient to cater to about 1.5 million metric tons of demand annually therefore rely on their import always remain. However, the global market that plunged from $1800 to $700 a metric ton of chickpea over the two years widely helped the country absorb the import bill burden," Haroon Agar, a leading importer of pulses told Business Recorder.
Pakistan imported $353.435 million of overall pulses in July-Feb 2017-18. However, import volume of pulses grew 34 percent or 160068 for high local demand to 634,498 metric tons in July-Feb 2018-19 from 474,430 metric tons in July-Feb 2017-18, the statistics say. "The country's total pulses import stands about 1 million metric tons," and more import of the commodity may land, Haroon said.
In Feb 2019, Pakistan imported $32.224 million of pulses, which is lower by 15.17 percent or $5.763 million from $37.987 million in Feb 2018. Import quantity of pulses also plunged to 52,518 metric tons in Feb 2019 from 65,455 metric tons in Feb 2018, down by 20 percent or $12937 metric tons, according to the statistics. Pakistan imports pulses from Australia, Burma, Tanzania and Ethiopia.
Prices of mash daal scaled down to $475 from $2200 a metric ton over the period, Haroon said, adding that channa from $400 to $290 that helped the nation to find a variety of pulses at lower rates on the retail markets. White channa was available for about Rs250 at the wholesale market before the global market slump, which is now being sold between Rs70 a kg and Rs100, depending on its varieties.
He further said that the prices of spices also showed a global market fluctuation as few items fell down and the other grew in term of prices. "Small cardamom has become costlier from $9000 to $22000 a metric tons on the global market," he said, adding that the cardamom is the main production of Guatemala - a country in the Central America. Similarly Pakistan also imports spices from different countries that include clove, black pepper, cardamom etc.
Pakistan imported $98.247 million of spices in July-Feb 2018-19, which lower by 8 percent or $8.346 million from $106.593 million in July-Feb 2017-18. Import volume of spices however remained stagnant with just less than 1 percent or 270 metric tons fall to 88,370 metric tons in July-Feb 2018-19 from 88,100 metric tons in July-Feb 2017-18. In Feb 2019, Pakistan's spices import scaled down to $11.882 million from $13.555 metric tons in Feb 2018, down by 12.34 percent or $1.673 million. Import quantity of spices went up by 7.24 percent or 744 metric tons to 11,025 metric tons in Feb 2019 from 10, 281 metric tons in Feb 2018.
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