15/06/2012 (Daily Times) - Declining trend in the rates of palm oil in the international market has spelled positive news for the consumers of ghee and cooking oil as the Utility Stores Corporation of Pakistan (USC) has made downward revision in rates of both products from Wednesday.

During the current year frequent increase in prices of ghee and cooking oil had pushed their rates beyond the buying capacity of overwhelming segment of the population.

The increase was attributed by the traders on account of higher rates of palm oil in the international market compelling them to pass on the impact of higher prices to consumers accordingly.

However, the higher officials of the USC presenting justification for the frequent increase in ghee and cooking oil prices totally overlooked the fact, prime objective of the corporation was to provide subsidised edible items to consumers at affordable rates.

The Man-pasand brand of ghee which was previously available at Rs 164 per kg is now sold at Rs 160 per kg while the similar brand of cooking oil earlier sold at Rs 166 per kg is currently available at 162 per kg..

However, no such decline was offered by the corporation on all popular brands of ghee and cooking oil including Habib, Supreme, Dalda, Tullo, Kissan, Mezan and many others as according to an official of the corporation, their rates were already on lower side compared to open market.

As a consequence of decline in prices of both items, a marked surge was witnessed in demand of both the items by the consumers, which frequent USC outlets.

An official of an outlet of the corporation in Gulshan e Iqbal acknowledged about increase in demand rates of both varieties of ghee and cooking oil especially before the advent of Ramzan which is hardly 35 to 36 days away from now.

Usually one month prior to commencement of the Ramzan, demand of majority of kitchen items generally surges and the latest downward revision in prices of ghee and cooking oil have provided an ample opportunity to consumers hailing from lower segment of the population to make purchases as per their requirements.

He did not rule out further decline in prices of both items in future as well if the declining trend in prices of palm oil in the international market continued.