Palm oil imports into the country during first half of the current financial year witnessed negative growth of 20.86 percent as compared to the imports recorded during the corresponding period of last year. Palm oil imports during July-December (2009-10) were recorded at US $571.446 million as against the imports of US $722.102 million, recorded during July-December (2008-09), according to figures provided by Federal Bureau of Statistics (FBS).
Meanwhile, imports of soybean oil also decreased by 60.98 percent during the period under review, by falling from US $14.919 million in 2008-09 to US $5.822 million during 2009-10, the figures revealed. However, palm oil imports during the month of December were up by 3.96 percent when compared to the imports of November 2009. Imports during December 2009 were recorded at US $100.302 million against the imports of US $97.059 million, recorded during November 2009.
As compared to the palm oil imports of US $84.833 million recorded during December 2008, the imports during December 2009 were up by 18.87 percent. Soybean oil imports increased by 89.33 percent during December 2009 by going up from imports of US $1.430 million in December 2008 to US $2,821 million during December 2009.