The GOP has imposed an 11 percent tax on the import of soybean meal in its federal budget 2014/15, effective July 01, 2014. The imposition of this new import tax will make soybeans import economically viable with anticipated imports estimated to be around a million tons. Cotton is Pakistan’s principal oilseed and sowing is lagging behind due to late wheat harvest and unexpected rains during the planting season. Oilseed imports are falling due to relatively higher prices compared to declining palm oil prices. During January - May 2014, Pakistan imported 256,561 metric tons of oilseeds and 929,465 metric tons of edible oil.
