In the initial month of the current fiscal year, Pakistan witnessed a substantial decline of 100 percent in wheat imports in comparison to the same month of the preceding year.
According to data from the Pakistan Bureau of Statistics, there were no wheat imports in July 2023, contrasting starkly with the 211,597 metric tons imported, valued at $107.142 million, during the corresponding period in the previous fiscal year.
Simultaneously, the imports of edible oils, such as palm and soybean, saw decreases of 5.40 percent and 6.82 percent, respectively, during the first month of the current fiscal year in contrast to the same period in the prior year.
In July 2023, around 12,575 metric tons of soybean were imported at a cost of $14.955 million, compared to 11,000 metric tons valued at $15.809 million during the same month the previous year. Moreover, over 277,801 metric tons of palm oil, amounting to $278.939 million, were imported in the initial month of the current fiscal year to meet local demands for cooking oil and vegetable ghee. This marked a decrease from the 194,081 metric tons imported, valued at $299.395 million, during the same month of the preceding year.
However, sugar imports into the country exhibited growth of 20.09 percent during the review period. A total of 574 metric tons of sugar, costing $593,000, were imported in contrast to 550 metric tons valued at $449,000 during the same month the previous year.
Notably, during the first month of the current fiscal year, food group imports in the nation declined by 18.13 percent. Food commodities worth $624.804 million were imported, as opposed to imports totaling $763.134 million during the same month of the prior year.
Additionally, in July 2023, food commodities worth $329.156 million were exported, reflecting a 7.56 percent decline from the exports totaling $356.073 million during the same month in the previous year. Overall, exports during the month amounted to $2.057 billion, a decrease of 8.57 percent compared to the previous year's figure of $2.250 billion.
