09/02/2008 (The Daily Times, Pakistan), Karachi - The sale of ghee and cooking oil has declined considerably in the wake of an unabated cycle of upward revision in prices by their manufacturers, which squeezed the purchasing power of consumers.

Another major increase was made by the ghee and oil manufacturers in prices of their products in February which has resulted in a sharp decline in the demand of products as claimed by the General Secretary, Karachi Retailers and Grocer Group, while talking to Daily Times.

“An overwhelming majority of the consumers, owing to increase in prices of ghee and cooking oil, now prefer to buy less than half of their needs,” he added.

He said all leading ghee and oil manufacturing and importing companies have made an upward revision in the prices in the garb of an increase in palm oil prices in the international market which has gone up from $1,120 to $1,150 per tonne.

Ironically majority of the importers and manufacturers have one to two months of stock in their warehouses but they never miss an opportunity to reap maximum financial benefits in case of any increase in international market.

Citing instances of increase in ghee and oil prices, Fareed Qureshi said a 4 kilogramme of Rafhan oil tin, which was earlier available in the retail markets at Rs 550 is now sold at Rs 625 per tin. Similarly, a 9 ½ litre of Rafhan cooking oil tin, earlier sold at Rs 1,140, after the increase is now available at Rs 1,250 per tin.

Price of Habib Cooking oil also surged during the last few days, as a 5-litre tin, which was earlier sold at Rs 568 is now sold in retail markets at Rs 625 per tin. Another increase was observed in the prices of Kissan and Mezab brands of ghee, as 5 kg tin is now sold at Rs 600 as compared to the previous price of Rs 540 for the same weight.

Price of 1 kilogramme pouch of Dalda and Soya Supreme ghees have also gone up from Rs 112 to Rs 124 showing an increase of Rs 12 per packet. tanveer sher