In Pakistan, 96% of the edible oil is consumed by food industry, commercially and domestically. Per capita consumption in Pakistan is around 24kg, higher than India and Sri Lanka, which is largely responsive to rising GDP.
Why is Pakistan the fourth-largest importer of edible oil?
In defiance of Pakistan being an agricultural country, it has surprisingly become the fourth-largest importer of edible oil globally. The fiscal year 2021-22 witnessed an import bill of $4.5 billion, primarily driven by increased consumption and fluctuations in the international edible oil market.
How much edible oil does Pakistan import in 2021-22?
The fiscal year 2021-22 witnessed an import bill of $4.5 billion, primarily driven by increased consumption and fluctuations in the international edible oil market. Over the past two decades, Pakistan¡¯s imports of edible oil have grown at an annual rate of 12.3%, resulting in a staggering 398.7% increase in the import bill by 2020.
Does Pakistan still produce edible oils?
Over the past two decades, Pakistan has witnessed a gradual decline in domestic production of edible oils, where it was 0.642 MT in 2000-01 and 0.431 MT in 2017 but positive changes have been observed since the initiation of the Punjab Oilseed Promotion Initiative in 2017-18.