Branded and unbranded ghee and cooking oil available in small and large packs and pouches at a retail shop in Karachi. White Star/File
ISLAMABAD: As vegetable oil and ghee rates remain volatile, mainly moving upwards, the stakeholders in the sector have demanded that the government revise duty structures to help maintain prices in the local market.
The Pakistan Vanaspati Manufacturers Association (PVMA) in a presentation sent to the ministry of industries on Wednesday informed the government that the price of processed ‘refined, bleached and deodorised’ (RBD) palm oil issued from Singapore was $787 per tonne at the start of 2020, it dropped to $512 per tonne in the first week of May 2020, but with supplies running short, it jumped to $750 in the first week of November 2020 and surged to $1,050 per tonne last week.
A woman picks up a carton of cooking oil at a store. Increase in ghee and cooking oil prices is forcing many consumers to buy these items on a ‘as needed’ basis instead of bulk buying as part of monthly grocery.
KARACHI: Rising prices of raw materials in local and world markets are causing extensive price pressure on various essential commodities, either edible or those used as raw material or fuel in industry. Rising demand as well as escalating global prices are driving the phenomenon.
The wholesale price of sugar has crawled up by Rs5 per kg in the current week despite frequent imports by the private and public sector.