Local edible oil demand is met through both crushing of oil seeds and import of cooking oil. Cottonseed is the principal oilseed crop grown in Pakistan, accounting for an average of ~87% of domestic oilseed production in the last 5 years. Cottonseed demand is met through local produce only.
How did Pakistan’s edible oil market perform in FY20?
Pakistan¡¯s edible oil market was recorded at PKR 1,161 million in FY20 registering a YoY growth of 22% (FY19: PKR~950 million). Local consumption was recorded at ~4.9mln MTs in FY20 up ~3% YoY, as (FY19: ~4.7mln MTs).
Which oil is most consumed in Pakistan?
Palm oil has largest share in overall edible oil consumption followed by soybean oil, rapeseed oil and sunflower oil. The demand of the edible oil is expected to remain robust and expected to increase more in coming Ramzan month. Pakistan is heavily dependent on import of oil seed and edible oil to meet local consumption.
How much does edible oil cost in Pakistan?
Average local price of edible oil during FY21 is recorded at PKR~345/kg as compared to PKR~275/kg during FY20 (YoY Growth: 25%). With a per capita consumption of 22kg, Pakistan is the world¡¯s 8th largest consumer of edible oil.