Karachi: After a gap of two years, the first consignment of soybeans docked at the FAP terminal. This consignment consists of 65,000 metric tons of soybeans, which arrived from the United States.
A spokesperson for the US Soybean Export Council said that GM imports were stopped in October 2022, as a result of which the growth of poultry decreased by 40 percent and chicken prices increased. This import consignment will not only benefit the poultry industry but also the cooking oil industry and the fisheries sector.
On this occasion, Kevin Ruipke, Regional Director of the US Soybean Export Council, said in his address that there is a deficit of $ 1 billion in bilateral trade between Pakistan and the United States, which can be halved by soybean trade. He added that Pakistan is the world’s third largest palm oil importer and soybeans can help reduce the import bill for edible oil.
Speaking on the arrival of the first consignment of soybeans, US Consul General Scott Arbom said that this is the first consignment since October 2022. On this occasion, he said that the US Mission and Pakistani colleagues have made great efforts for this important step, and this initiative will bring prosperity to both Pakistan and the United States.
He added that Pakistan imports soybeans worth more than $300 million from the United States every year and these soybeans are the second largest export to Pakistan from the United States after cotton.
He emphasized that the ban on soybeans had led to an increase in the prices of poultry meat and eggs in Pakistan, which was a challenge for the people. In addition, Scott Arbom said that there is a huge scope for promoting bilateral trade between Pakistan and the United States, which can benefit the economies of both countries.
