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KARACHI: Pakistan’s edible oil and ghee market has witnessed a significant price hike, with first-grade ghee and oil prices increasing by 54 to 60 rupees per kilogram.
According to market sources, the retail price of first-grade oil and ghee has risen from 505 rupees to 559 rupees per kilogram.
Similarly, second-grade ghee prices have jumped from 440 rupees to 500 rupees per kilogram, with some areas reporting prices as high as 525 to 530 rupees. Second-grade oil, previously sold at 452 rupees per litre, now costs 512 rupees, with some retailers selling it for 530 to 540 rupees per litre.
Meanwhile, in a welcome move, the Utility Stores Corporation (USC) reduced sugar prices across the country last Thursday. The USC cut the price of sugar by 13 rupees per kilogram, bringing the new price down to 140 rupees per kilogram.
The sugar price reduction was made possible after the USC negotiated with sugar mills to lower their prices. The sugar mill owners agreed to reduce the price by 17 rupees per kilogram.
The USC had purchased 12,000 metric tons of sugar for 137 rupees per kilogram but incurred additional costs, bringing the total cost to around 152 rupees per kilogram.
Despite the increase in edible oil and ghee prices, the USC’s decision to slash sugar prices provides some relief to consumers.
The price hike in edible oil and ghee is likely to affect household budgets and inflation rates. In contrast, the reduction in sugar prices will provide some respite to consumers.
The USC’s efforts to negotiate price reductions with suppliers demonstrate their commitment to making essential commodities more affordable for the masses.
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