Pakistan: Oilseeds and Products Update

Pakistan’s Marketing Year (MY) October/September) 2019/20 soybean imports reached 1.7 million metric tons (MMT), 15 percent lower than the last year. Reduced imports are mainly due to an increase in soybean prices, a pandemic-related drop in feed demand from the poultry industry, and ongoing uncertainty regarding Pakistan’s gap in regulations for GE products intended for food, feed, and processing (FFP). MY 2020/21 soybean imports are forecast at 2.4 MMT, assuming that international soybean prices stabilize and that Pakistan addresses its regulatory gaps in a manner consistent with its international trade obligations. MY 2019/20 rapeseed/canola imports are estimated at 781,136 metric tons (MT), down 14 percent from a year ago due to the overall slackening of business activity leading towards reduced demand. MY 2019/20 imports of soybean oil are down 35 percent due to price increases and the substitutability of lower-priced palm oil. MY 2019/20 palm oil imports are up 6 percent, offsetting the supply gap.

Pakistan: Oilseeds and Products Update