The cost of living has taken another blow as cooking oil and ghee prices have surged considerably in recent weeks.
Reports indicate that these essential commodities have increased by Rs40 to Rs50 per kilogram, driven primarily by a sharp rise in international palm oil prices. Over the past two months, palm oil prices have jumped from $900 to $1,200 per ton—a significant increase of $300—resulting from various global market dynamics. This shift has compelled local manufacturers to adjust their pricing strategies to accommodate rising raw material costs.
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In response, manufacturers are advocating for tax reductions, which currently stand at Rs100 per kilogram for ghee and oil, to help keep prices affordable amid escalating expenses.
With an annual palm oil import of around 3.2 million tons to meet a national demand of 4.5 million tons, Pakistan remains especially susceptible to these global price fluctuations.
