Pakistan has grown its reliance on pulses import in the last six months to cope with the soaring demand for the commodity on the local market. The country imported $268.045 million of pulses in the first half of this fiscal year that is 43.18 percent or $80.841 million higher as compared to the commodity’s import of $187.204 million over the period last fiscal year, Pakistan Bureau of Statistics said.
“Low pulses production at home always pushes the country to import the commodity to fill the supply and demand gap,” Chairman Karachi Wholesalers and Grocers Association, Anis Majeed told Business Recorder on Tuesday. The volume of pulses import during the last six months surged 48 percent or 145, 093 metric tons to 450,202 metric tons from 305,109 metric tons over the period last fiscal year.
In December 2015, the country’s pulses import mounted 35 percent or $22.212 million to $59.651 million from $37.439 million in December 2014. Pulses import quantity grew 38 percent or 22, 646 metric tons to 82, 297 metric tons in December 2015 from 59,651 metric tons in December 2014.
“Local pulses production was low last year, which created a gap between supply and demand,” Anis said, adding that “the increased pulses supplies after their import helped the market stabilise the commodity’s prices”. Pulses import eventually stabilised the market, he said.
Source: Business Recorder