Inside Financial Markets

Seafood worth $ 200.97mn exported


eafood worth $ 200.97mn exported

ISLAMABAD: The exports of fish and fish preparations from the country during first half of current financial year increased by 9.08 percent as compared the corresponding period of last year.

During the period from July-December 2017-18, the country earned US$ 200.97 million by exporting about76,098 metric tons of fish and fish preparations as compared the exports of 56,833 metric tons valuing of US$ 83,446 million of same period last year, according the data of Pakistan Bureau of Statistics.

Overall food group exports from the country during the period under review witnessed growth of 16.81as food commodities worth US$.932 billion were exported during July-December (2017-18) against the exports of US$1.654 billion during July-December (2016-17), the data revealed.

The commodities that contributed in overall food trade from the country included rice exports of which grew by 18.32 percent from $712.832 million last year to $843.388 million during the current year. Among rice commodities, the exports of basmati rice increased by 4.52 percent while that of other rice commodities increased by 22.88 percent.

During the period under review the exports of vegetables increased by 6.52 percent a s different vegetables worth US$ 62.709 million to exported as compared the exports of US$ 58.871million of same period last year, it added.

During the period under review, the tobacco exports from the country increased from US$3,991 thousand to US$ 20.625 million, showing growth of 416.79 percent while the wheat exports witnessed increase of 100 percent percent by going up from zero exports to US$ 0.045 million.

Meanwhile, exports of oil, seeds, nuts and kernals increased by 10.35 percent from US$ 20.243 million to US$ 22.339 million while sugar exports also increased from zero exports last year to US$181.209 million, showing 100 percent growth.

The food products that witnessed negative growth in trade included fruits, exports of which declined from US$198.143 million to US$ 180.288 million, showing 9.01 decline while the exports of leguminous vegetable (pulses) decreased by 100 percent .

Exports of spices from the country also decreased from US$ 37.478 million to US$ 36.421 million, showing decrease of 2.82 million while the exports of meat and meat preparations decreased by 6.21 percent, from US$104.401 million to US$ 97.915 million. the month of December 2017 compared to the same month of last year.

The food exports during the month of December 2017 were recorded at US$ 439.285 million against the exports of US$ 334.860 million last December, according to the PBS data.

On month-on-month basis, the food exports from the country also witnessed increase of 4.92 percent in December 2017 when compared to the exports of US$ 418,697 million in November 2017, the data revealed.

Ahsan Baig

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)