Windfall of Ghee, cooking oil prices couldn’t trickle down

KARACHI: Following fall in international market palm oil prices, although the ghee and cooking oil prices in the local markets are seen coming down, however, the branded ghee and cooking oil companies are not letting the windfall profit to trickle down to the public.

Karachi Retail Grocers Group’s General Secretary Fareed Qureshi told Geo News that following the fall in the international market prices, local market wholesale price of 16 kg ghee down by further Rs50 pegged at Rs2, 290, while 16 litre cooking oil canister at Rs2,340.

Fareed Qureshi said that following international market current year raw palm oil per ton price coming down to $878 after a drop of 26 percent, unpacked ghee and cooking oil prices were seen dropping, but the branded companies’ per litre cooking oil and ghee retail average price still remained firm at Rs185.