Pakistan's Food Import Bill Declines by 18% Amid Falling Consumption
Pakistan’s food import bill has dropped by 18% in the first two months of the current financial year, according to recent data from the Pakistan Bureau of Statistics. The total bill now stands at $1.06 billion, signaling a notable decrease in the country’s dependence on imported food items.
The most pronounced drop was in milk imports, which fell by 23%, reducing the expenditure to $19 million. Tea imports also declined sharply, with volumes decreasing from 46,451 tonnes to 38,847 tonnes, and the associated import bill shrinking from $110 million to $97.9 million.
Soybean imports saw the largest percentage decrease, plummeting by 52% to $22.2 million. Palm oil imports, a major food item for Pakistan, experienced a 10% drop, with costs falling to $495.9 million. Pulses imports also decreased by 21%, totaling $133 million, while imports of various other food grains fell by 33%, amounting to $245.3 million.
This reduction in the import of essential food commodities reflects efforts to manage the food import bill amid ongoing economic challenges.
