ISLAMABAD: The government released nine consignments of soybean and canola seeds that were stranded at Karachi ports on Wednesday. More than 100 containers of onions awaiting an extension in duty and tax exemption could result in a sharp increase in vegetable prices.
As per Karachi port Trust, more than 6000 tonnes of both Canola and soya beans were unloaded in 48 hours. The containers with onions are being massed as a consequence due to sales tax and withholding tax.
Tonnes of onions were stranded at the Karachi port where the government charged 17pc sales taxes, 3pc additional sales taxes, and 1pc withholding tax since 1st January of 2023 for onions and tomatoes.
Tariq Bashir Cheema, Minister for Food Security recently development had come forward to curb the import of GMOs (genetically modified organisms) in the country as they contain health-hazard materials. The seeds were imported from edible oil mills and the All Pakistan Solvent Extractors’ Association (APSEA).
Demand and Supply
The demand set by the poultry farms was not met by feed mills, hence resulting in a price rise in Broiler chicken that crossed Rs450 per kg while chicken meat stands at Rs850 per kg. The shortage of Soybean meal, the chicken feed raised to Rs7, 000.
Conversely, the broiler chicken price decreased by Rs100 in four days making it Rs350 per kg. The government had issued to release nine consignments of oil seeds stuck at Karachi port.
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