But there is a bigger issue. Pakistan¡¯s local Edible Oil production dropped by 21 percent from 477,00 tons to 374,000 tons between 2018 to 2021 but has recovered to 496,000 tons since then.
How much oil does Pakistan import?
Palm Oil and Palm Olein account for the majority of imported Edible oil in the country. Pakistan imported 3 million tons of Palm oil worth of $3.64 billion during FY23 while Soybean Oil imports stood at 220,000 tons or $315 million during the same time.
How will palm oil prices affect GCPL earnings?
Godrej Industries Group’s FMCG arm GCPL said it expects a "flattish" earnings growth in the domestic market in the September quarter as higher palm oil prices added to input costs. "Palm input costs have been rising since March and have risen in the high teens as of date.
How will rising palm oil prices affect FMCG?
Leading FMCG players expect rising palm oil prices, higher input costs and increased advertising and promotion expenses to impact their margins and profits in the September quarter.