ISLAMABAD: The edible oil import bill during first three quarters of last fiscal year has reached US $ 1.377 billion with 1.789 million tonnes quantity, registering 4.07 percent increase.
Local production of edible oil during 2014-15 (July-March) was estimated at 0.546 million tonnes.
Official figures of Pakistan Bureau of Statistics on Monday revealed that total availability of edible oil from all sources is provisionally estimated at 2.335 million tonnes during 2014-15 (July-March).
The edible oil import bill during 2013-14 was Rs. 246.895 billion (US$ 2.50 billion). The local production of edible oil contributed 0.573 million tonnes while import of edible oil/oilseeds was 2.627 million tonnes.
The major oilseed crops grown in the country include Sunflower, Canola, Mustard and Cotton and during 2013-14 total availability of edible oil was 3.2 million tonnes.
The Bureau further revealed that due to slump in international market of edible oil and oilseeds, the local traders were offering Rs.2,050 to Rs.2,100 per 40 kg for canola crop produce in 2014-15. Low prices in local market discouraged the oilseeds growers resulting decline in edible oil production.
Last year average price of oilseeds (canola/sunflower) prevailed around Rs. 2,500 to Rs.2,800 per 40 kg.