Palm Oil Imports by Pakistan May Drop as Floods Destroy Demand
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Pakistan, the world’s third-biggest importer of palm oil, may buy 10 percent less of the commodity in October and November than in July after the country’s worst-ever floods destroyed villages, a traders’ group said.
“Who will buy the oil when there are no people to sell it to?” said Ikram Chaudhary, secretary of the Pakistan Edible Oil Refiners Association, in a phone interview from Islamabad. “Our imports may decline after floods washed away our selling points.” Imports in July were 147,666 tons, according to the country’s Federal Bureau of Statistics.