Pakistan's grain imports spike by 47.34% from July-October 2022 - PBS report

Pakistan’s grain imports have spiked by 47.37% from July 2022 to September 2022,  ARY News reported citing the Pakistan Bureau of Statistics.

According to the report published by PBS, food imports in the first four months of the fiscal year 2022-23 were Rs765.55 billion. The imports in the corresponding months of 2021-22 were Rs519.58 billion, the PBS data shows.

Wheat imports grew by 156.95% as the country imported Rs102.60 billion worth of wheat. While soybean imports grew by a staggering 537.22% in the same time period.

Cooking oil imports amounted to Rs314.20 and grew by 66.6%, the PBS report shows.

Tea imports amounted to Rs42.85 billion and increased by 37.38%, while pulses imports went up by 69.84% as the country imported Rs77.67 billion.

Despite the increasing import bill, the federal cabinet approved the Economic Coordination Committee’s (ECC) decisions to import nearly $300 million worth of urea fertiliser and wheat through open tenders.

According to sources, the federal cabinet has approved the Economic Coordination Committee’s (ECC) decisions through circulation on an emergency basis.

Sources told ARY News that the cabinet allowed the Trading Corporation of Pakistan (TCP) to import 300,000 metric tonnes of urea fertiliser and 380,000 metric tonnes of wheat.

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Sources added that 380,000 tonnes of wheat would be imported for $373 per ton, while 300,000 metric tonnes of urea would be imported at $520 per ton.