Price Hike in Branded Ghee and Oil Announced by Manufacturers

Lahore: Branded ghee and cooking oil manufacturers have increased prices, as reported by retail sources. The cost of cooking oil and branded ghee has risen by Rs. 80, bringing the price to Rs. 570 per kilogram. Some leading brands have raised prices by as much as Rs. 100.
Chairman of the Pakistan Vanaspati Manufacturers Association, Sheikh Omar Rehan, explained that the global price of palm oil had surged to $1,285 per ton, but later fell to $1,185 per ton. This led to a reduction in the open market price of palm oil from Rs. 19,000 per maund to Rs. 16,500 per maund.
As a result, the price increase of Rs. 80 in ghee and cooking oil was partially reversed, with a Rs. 40 reduction observed in the prices. However, due to the branding, distribution, and marketing networks, branded items tend to adjust to price fluctuations more slowly.
Rehan further stated that the prices of branded ghee and cooking oil are expected to decrease gradually in the coming period.
In a related development, the price of chicken has also increased by Rs. 29 per kilogram.