July 30, 2013
Pakistan imported $326.820 million of pulses during fiscal year 2012-13 as importers scaled back placing orders for the commodity’s import keeping in view an expected bigger crop in the country this year, traders said. Pakistan imported $107 million or 24 percent less pulses last fiscal year as compared to the commodity’s import of $433.850 million in fiscal year 2011-12, according to official statistics.
“This year crop is good and bigger which significantly pulled down prices of pulses on the local retail market,” said Chairman Karachi Wholesalers Grocers Association (KWGA), Anis Majeed. In terms of quantity, the country imported 473,049 metric tons of pulses last fiscal year as compared to the commodity’s import of 672,495 metric tons during fiscal year 2011-12, indicating a slump of 199,446 metric tons or 30 percent, said Pakistan Bureau of Statistics (PBS).
“Some 0.3 metric tons of surplus pulses crop this year the country has received, which not only helped scaled down import of the commodity but also stabilise local market,” said Anis Majeed. On an annual basis, Pakistan imported $24.447 million of pulses in June 2013 as compared to the commodity’s import of $56.111 million in June 2012, indicating a fall of $31.664 million or 56.43 percent, PBS said.
In term of volume, the country’s import of pulses stood at 39,218 metric tons in June 2013 as compared to the commodity’s import of 85,305 metric tons, depicting a decline of 46,087 metric tons or 54 percent, according to the statistics. Anis Majeed urged the retailers to fix price of pulses as per the local wholesales market with a view to maintain the supply chain and rates of the commodity across the country.
“This year prices of pulses are good which may not remain stable in future” he warns, suggesting a smooth mechanism to help retain market price of pulses for a quite awhile. Despite the soaring inflation in the country, he is satisfied the prices of pulses are falling on the local market, which he attributed to the “bigger” crop size in the country this year.
Last year, the winter frost badly damaged the crop which forced the country to import more pulses to satisfy the local demand of around 0.7 million metric tons, said Anis Majeed, hoping the yield will help fulfil the demand for entire year. Pakistan depends on Australia, Burma, Tanzania and Ethiopia for its pulses import to satisfy local for the commodity every year. Courtesy:Business Recorder
Published in ZaraiMedia.com