Prices of vegetable ghee and cooking oil are expected to rise by Rs 10-15 from coming Monday (January 16) following complete blockage of consignments of edible oil at Port Qasim due to on-going strike of tankers'' union. Well-placed sources told Business Recorder on Friday that the tankers'' union went on strike on January 10 in protest against the supply of edible oil by the National Logistics Cell (NLC).
"The tankers'' union has blocked the consignments of edible oil that were being transported by NLC trucks thereby completely arresting supply to vegetable ghee/oil mills across the country," industry sources said. "Now no consignment of edible oil is being supplied to the mills of vegetable ghee/oil throughout the country that has brought an end to the production of ghee/oil. Keeping this thing in view, the distributors and retailers of vegetable ghee and cooking oil, have started hoarding the commodity that is likely to lead to serious shortages in the domestic market unless remedial measures are taken urgently," sources disclosed.
Tankers'' union has reportedly refused to negotiate the issue with the government. "They want suspension of supply of edible oil through NLC. On the other hand, the supply of vegetable ghee/oil in the local market has started declining and it is expected that from Monday January 16, the price of vegetable ghee and cooking oil may increase by Rs 10-15," sources added.
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