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).
How is edible oil demand met in Pakistan?
Local edible oil demand is met through both crushing of oil seeds and import of cooking oil. Cottonseed is the principal oilseed crop grown in Pakistan, accounting for an average of ~87% of domestic oilseed production in the last 5 years. Cottonseed demand is met through local produce only.
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.