The prices of cooking oil and ghee in Pakistan has seen a significant increase in recent weeks, exacerbating the already high cost of living for many households.
According to reports, prices have escalated by Rs40 to Rs50 per kilogram, largely attributed to a sharp rise in palm oil prices on the international market.
In the past two months, palm oil prices have surged from $900 to $1,200 per ton, reflecting a substantial increase of $300. This dramatic rise is linked to various global market dynamics, prompting local manufacturers to adjust their pricing strategies accordingly in response to the higher costs of raw materials.
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Manufacturers are calling on the government to consider reducing the existing taxes, which are currently set at Rs100 per kilogram for both ghee and cooking oil. They argue that such a reduction could help mitigate the financial burden on consumers struggling with rising prices.
Pakistan imports approximately 3.2 million tons of palm oil each year to meet a national demand of 4.5 million tons, making the country particularly susceptible to fluctuations in global prices.
