Oil, ghee prices go up by Rs60 per kg in Pakistan

Pakistan’s edible oil and ghee market has seen a significant price increase, with first-grade ghee and oil prices rising by 54 to 60 rupees per kilogram in recent days.

According to market sources, the retail price of first-grade oil and ghee has climbed from 505 rupees to 559 rupees per kilogram. Similarly, second-grade ghee prices have surged from 440 rupees to 500 rupees per kilogram, with some areas reporting prices as high as 525 to 530 rupees.

The price of second-grade oil has also increased, rising from 452 rupees per litre to 512 rupees, with some retailers selling it for as much as 530 to 540 rupees per litre.

The price hike in edible oil and ghee is expected to impact household budgets, contributing to rising inflation in the country. The surge in prices comes as the cost of raw materials and global commodity price fluctuations continue to affect the local market.

In contrast, the Utility Stores Corporation (USC) has provided some relief to consumers with a reduction in sugar prices.

Last Thursday, the USC announced a 13-rupee per kilogram reduction in sugar prices, bringing the new retail price down to 140 rupees per kilogram. This price reduction follows successful negotiations between the USC and sugar mill owners, who agreed to lower the price of sugar by 17 rupees per kilogram.

The USC had purchased 12,000 metric tons of sugar at 137 rupees per kilogram, but the additional costs incurred during procurement brought the total cost to approximately 152 rupees per kilogram.