Pakistan has spent Rs. 145 billion to import 1.467 million ton of edible oil to meet the local needs during last eight months of this fiscal year. The major oilseed crops grown in the country include sunflower, canola, cottonseed and mustard and local production during the period was 0.636 million ton.
An official source on Tuesday said although cotton crop is grown for its lint, cotton seed contributes 50 to 60 % of local edible oil production.
At present, total requirement of edible oil in the country is 2.045 million ton and during the year 2010-11 import bill reached Rs. 224 billion (US$ 2.611 billion), the official said.
He said the total availability of edible oil was 3.079 million ton, of which local production contributed 0.696 million ton (34 percent of the requirement) while imports of edible oil or oilseeds was 2.383 million ton.
It is estimated that 10 percent of the total availability of edible oil is consumed in industries like cosmetics, paints and other allied products.
He said around 200,000 tons of edible oil is exported, mainly to Afghanistan.
