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Government shocks consumers with 213 rubles per liter in vegetable oil prices – Newspaper

KARACHI: government on Tuesday shocked consumers by pushing up ghee and vegetable oil prices at an unprecedented Rs 208 and Rs 213 to record highs of 555 rupees per kg and 605 rupees per liter respectively, although “these rates still do not exist”. in retail markets.

An official in Utility Store Corporation (USC) in Karachi confirmed to Dawn that USC issued the notice. of this flashy jump in rates for ghee and vegetable oil are valid from 1 June.

official, however, not comment why the rates were raised up so ruthlessly hit bad for consumers.

maximum rate of ghee and cooking of famous brands in in retail markets, it still fluctuates between 540-560 rupees per kg / liter.

Utility stores to begin sale of ghee and vegetable oil at 555 and 605 rupees respectively; higher than “retail prices”

However, the Secretary General of Pakistan Vanaspati Manufacturers Association (PVMA) Died Islam Khan hinted that retail prices of ghee and vegetable oil soon come on denomination with USC prices.

He said that the ghee/edible oil manufacturers have stopped making products. on a USC loan because the corporation failed to pay the producers a debt of 2-3 billion rupees.

Mr Umer said the Prime Minister’s task force committee on Supply of Palm oil made up of officials of relevant ministries and PVMA office-bearers holds daily zoom meetings for analysis demand and supply situation of palm oil.

He said about 160,000 tons. of palm oil reserves available in two ports of Karachi, which is enough for three weeks of consumption. Despite the rise of Indonesian export ban on palm oil on On May 23, not a single loaded ship was sunk. on on the high seas or in the port of Indonesia for deliveries to Pakistan.

However, the PVMA required government remove 2 pcs. additional customs duty on import of palm oil from Malaysia to compensate for high cost of Malaysian palm oil, which is 15-20% more expensive than Indonesian.

About 87 pcs. of Pakistan total palm oil imports come from Indonesia, and the rest met from Malaysia.

When asked why the prices of ghee and frying oil had not fallen despite drop in Indonesian palm oil rate to $1700 from $1900-2000 per tonne two months backMr. Umer said deliveries are booked on higher rates and a massive devaluation of the rupiah further raised cost.

Commenting on rising travel costs, he said, PVMA in his circular on May 27 invited its members to pay the travel expenses. for own batches of edible oil in the NLC /private tankers with increase of only 22.50pc after jump of 30 rupees in diesel fuel to 174.67 rupees per liter. Growth in shipping charges apply on delivery both within the country and in Karachi of edible oil.

Published in Dawn, June 1, 2022

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Derrick Santistevan
Derrick Santistevan
Derrick is the Researcher at World Weekly News. He tries to find the latest things going around in our world and share it with our readers.

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