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Introduction:
Pakistan’s imports of various food commodities witnessed a mixed performance in the fiscal year that ended on June 30, 2023. While tea imports experienced a decline of 9.13 percent, sugar and spice imports recorded significant decreases of 97.06 percent and 30.04 percent, respectively. The overall food group imports showed a marginal drop of 0.88 percent. On the export front, food commodity exports also faced a decline of 7.25 percent. Let’s delve deeper into the specifics of the country’s food trade performance during the mentioned period.
Tea Imports:
During July-June 2022-23, Pakistan imported approximately 231,449 metric tons of tea, amounting to $556.043 million. This marked a 9.13 percent decrease compared to the imports of 253,748 metric tons valued at $626.195 million during the same period last year.
Sugar Imports:
Sugar imports took a sharp nosedive during the last fiscal year, declining by 97.06 percent. The country imported only 6,205 metric tons of sugar, worth $0.0546 million, as opposed to the imports of 312,477 metric tons costing $191.720 million during the corresponding period last year.
Spice Imports:
In the same period, the imports of various spices decreased by 30.04 percent. Around 147,193 metric tons of spices were imported, valued at $151.240 million, compared to the imports of 138,413 metric tons costing $216.183 million during the same period last year.
Overall Food Group Imports and Exports:
The overall food group imports into the country experienced a slight dip of 0.88 percent. Throughout July-June 2022-23, the country spent $8.936 billion on importing various food commodities to fulfill local requirements, compared to the imports of $9.016 billion during the same period last year.
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Conversely, food commodity exports from Pakistan faced a decline of 7.25 percent, recording $5.0222 billion in comparison to the exports of $5.415 billion during the corresponding period of the previous year.
Conclusion:
Pakistan’s trade in food commodities showcased diverse trends in the fiscal year 2022-23. While tea imports registered a decline, sugar and spice imports experienced substantial reductions. The overall food group imports slightly decreased, reflecting the country’s efforts to meet local requirements. However, food commodity exports faced a decline, which may warrant further attention to boost the export potential of the sector.
