January 24, 2011

Pakistan's agricultural imports soar by 75% in H1 2010-11

Pakistan's food imports had increased by over 75% to US$2.71 billion in July-December 2010 against the same period of the previous year, despite being an agricultural country.

The country had imported foodstuff worth of US$2.71 billion in the first half of the ongoing fiscal year, as compared to US$1.54 billion in the same period of 2009-10, which reflects an increase of 75.03%.

According to the data released by the Federal Bureau of Statistics, the pulses imports surged by 98.92% during July-December 2010-11 against same period of 2009-10, sugar imports went up by 368%, palm oil, 60.60%, soyoil, 680.75%, species, 52.41%, and dry fruits 13.25%.

Meanwhile, food imports have registered an increase of over 121% only in December 2010 against the same month of 2009. The economic experts believed that the main reason behind the huge food imports is short run disruption to the supply chain in agriculture sector post floods situation.

Meanwhile, food exports increased by 6.16% during July-December 2010-11 against the same period last year. The fish export enhanced by 5.83%, fruits, 35.25%, and meat 54.56% in the period under review.