Branded ghee and oil manufacturers hiked prices

Lahore, branded ghee and oil manufacturers hiked prices.

Media reports have quoted retailers as saying that the price of cooking oil and branded ghee has increased by Rs 80 to Rs 570.

The prices of some major brands have increased by Rs 100, Chairman Pakistan Banaspati Manufacturers Association Sheikh Umar Rehan said that the prices of palm oil in the international market had increased to 1,285 dollars per ton.

Chicken meat became expensive by Rs 29 per kg

He said that later the prices came up to 1 thousand 185 dollars, which reduced the price of palm oil in the open market from 19 thousand rupees to 16 thousand 500 rupees per maund.

As a result, the prices of ghee and cooking oil, which had increased by Rs. 80, saw a decrease of Rs. 40. Branded items take time to adjust to price fluctuations due to their printing, distribution and marketing networks, he said.

He said that the prices of branded ghee and cooking oil will also come down gradually.