LAHORE: Consumers across the country may face a significant hike in the prices of cooking oil and ghee, with an expected increase of up to Rs 150 per kilogram, attributed to the rising prices of petroleum products.
According to the Banaspati Manufacturers Association, the prices of ghee and cooking oil are likely to increase by Rs 100 to 150 per kg. The association briefed the media about the looming price surge.
Banaspati manufacturers believe that oil and ghee are also being affected by rising inflation. Advise PVMA (Pakistan Vanaspati Manufacturers Association) stated that mill costs have increased due to a rise in the cost of S William products — a reference to imported raw materials or inputs.
According to Advise PVMA, transportation and production costs for ghee mills have become unbearably high. The association suggested that authorities should immediately form a panel to pave the way for price reduction.
It may be recalled that a sharp increase in petroleum product prices has previously affected food prices. As a result, a significant increase in chicken prices was seen in Peshawar in just one day.
According to reports, the price of live chicken increased by Rs 35 per kg, reaching Rs 490 per kg from Rs 455 a day earlier, while the price of chicken meat climbed to Rs 780 per kg.
Consumers are already grappling with high inflation, and another hike in essential kitchen items like ghee and oil is expected to add to their financial burden.
