Ghee prices have gone up by Rs 55 per 16 kg tin at the wholesale level, pushing its retail rates to Rs 80 per kg. The new price of a 16 kg tin on Tuesday was Rs 1100, against Rs 1045 of last week.
The recent increase is reported to be the outcome of the unprecedented increase in ghee and cooking oil prices in the international market, and experts do not foresee any letup for the consumers, at least in the next few months.
They believe that the global market would remain all time high during the next few months, and its ultimate effect would be further increase in ghee prices in the local market.
The international market of palm olien, for which Pakistan heavily depends on imports, is around $635 a ton, and its net impact on the local market is a quick jump in ghee prices.
The prices of palm olien are going up in the world market on daily basis and this phenomenon is adding the burden on the consumers in the local market in the form of more prices of this kitchen item. Pakistan meets only 20 percent of its consumption from its local production and depends for the remaining 80 percent on imported palm olien.
The government and the ghee industry are chiding each other on rising ghee prices for the last many weeks but nothing has been done practically to protect the consumers from the price hike. A number of meetings between government officials and manufacturers, on price hike, have remained inconclusive. It is a clear indication that the government is not considering any relief in prices for the consumers in the near future.