The Pakistan Vanaspati Manufacturers Association (PVMA) on Tuesday attributed the hike in prices of ghee and edible oils to increase in price of raw materials at international level.
"We have increased Rs 10 per kg in the edible oil and ghee prices in the country as prices of raw material in Malaysia and United States have increased at $1140 per ton impacting prices of finished products at domestic level", newly elected Chairman of PVMA Abdul Waheed told APP here on Tuesday.
However, he said that as soon as prices of raw material used in ghee and oil production reduced at global level, prices of oil and ghee in local market would be reduced, and relief would be passed on to consumers the same day. He said that that Malaysia has also increased oil prices as it is facing competition with Indonesia at international level.
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