The cost of cooking oil and ghee in Pakistan has risen sharply in recent weeks, impacting the already high cost of living. Reports indicate that prices have increased by Rs40 to Rs50 per kilogram, mainly due to a significant rise in palm oil prices on the international market.
In just two months, the price of palm oil has soared from $900 to $1,200 per ton, reflecting a substantial increase of $300.
This surge is linked to various global market factors, prompting local manufacturers to adjust their pricing strategies in response to higher raw material costs.
Manufacturers are also advocating for tax reductions, currently set at Rs100 per kilogram for ghee and oil, in an effort to keep prices manageable for consumers.
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Pakistan imports around 3.2 million tons of palm oil annually to meet a national demand of 4.5 million tons, making the country particularly susceptible to fluctuations in global prices.
