Average local price of edible oil during FY21 is recorded at PKR~345/kg as compared to PKR~275/kg during FY20 (YoY Growth: 25%). With a per capita consumption of 22kg, Pakistan is the world’s 8th largest consumer of edible oil. The sector is highly dependent on imported oil seeds and refined palm oil to meet the local demand.
How did Pakistan’s edible oil market perform in FY20?
Pakistan’s edible oil market was recorded at PKR 1,161 million in FY20 registering a YoY growth of 22% (FY19: PKR~950 million). Local consumption was recorded at ~4.9mln MTs in FY20 up ~3% YoY, as (FY19: ~4.7mln MTs).
Which oil is most consumed in Pakistan?
Palm oil has largest share in overall edible oil consumption followed by soybean oil, rapeseed oil and sunflower oil. The demand of the edible oil is expected to remain robust and expected to increase more in coming Ramzan month. Pakistan is heavily dependent on import of oil seed and edible oil to meet local consumption.
Which is the largest edible oils refinery in Pakistan?
It is the largest Edible Oils Refinery in Pakistan. MEO Refinery was commissioned for commercial production in April, 2006 and was formally inaugurated by the President of Pakistan on 25th July, 2006.