11/08/2011 (Pakistan Times) - Following a decrease in the price of palm oil in the international market, the price of cooking oil and ghee decreased by Rs 3 in the local markets, a report said on Wednesday.

General Secretary of the Karachi Retail Grocers Group, Fareed Qureshi said that in the local market, the wholesale price of 16 kilograms of ghee is Rs2,480 while a canister of cooking oil after a decrease of Rs50 is selling at Rs2,450.

Palm oil in the international market is selling at $ 988 per ton which is its lowest this year.