Pakistan soybean imports on the rise.

Pakistan continues to increase its purchasing of soybeans with imports expected to reach a record 1.6 million tonnes during 2016-17 and 2 million tonnes during 2017-18. Higher imports are a reflection of a tariff structure that favors soybeans over soymeal and growing demand from Pakistan poultry sector. imports of edible oils are proving to be slower than forecast as higher prices curb demand and increased imports and crushing of canola and soybeans offset some of the need for edible oil imports. Imports of both palm oil and soybean oil are now expected lower, but Pakistan remains one of the largest vegetable oil importers. Continued demand for protein meal from Pakistan’s poultry feed sector is expected to push soybean imports to a record. Importers continue to source small quantities of soybean meal when pricing is favorable and imports are expected to reach 360,000 tonnes during the current marketing year based on imports to date and estimated bookings.