MARKET DEVELOPMENT
Prices of Ghee, Cooking Oil Raised By Rs2-10
Prices of Ghee, Cooking Oil Raised By Rs2-10
26/01/2017 (Dawn) - The price of one-kg ghee and one-litre cooking oil pouches have been increased by Rs2-10 in the wake of rising trend in palm oil rates on the world markets.
However, wholesalers and retailers did not mention any reason for increasing the prices. They said as per the quality of various brands, some manufacturers have pushed up price of ghee by Rs8 per kg and Rs10 per litre in cooking oil. Some packers increased prices by Rs2 for one kg ghee and one litre cooking oil pouches.
Another leading packer has raised the price of ghee by Rs8 per kg and Rs10 per litre for cooking oil.
Meanwhile retailers said a number of packers had also enhanced the prices of five kg ghee tins and five litre cooking oil bottles by Rs50 while other packers pushed up prices by Rs25.
Some packers also increased the prices in phases by Rs5 per kg twice in the last 15-20 days.
A packer in Karachi said that palm olein and RBD palm oil prices have increased by $125 per tonne in the last four months, making an impact on local prices of the basic raw material for ghee and oil production.
He said palm olein and RBD palm olein rates on Tuesday were $787.50 and $780 per tonne in world markets. However, local rates of these two products were Rs4,270 per maund on Wednesday, up by Rs200 per maund in the last 15 days.
According to the figures of Pakistan Bureau of Statistics (PBS), palm oil imports in July-Dec 2016 fell to 1.214 million tonnes, costing $844m as compared to 1.327m tonnes worth $829m in same period 2015.
As per above figures, the average per tonne landing price of palm oil in July-Dec 2016 stood at $695 per tonne as compared to $625 per tonnes in same period 2015.
Soybean oil imports plunged sharply to 48,943 tonnes valuing $58m in July-Dec 2016 as compared to 75,852 tonnes costing $101m in corresponding period 2015.
Production of vegetable ghee in July-Nov 2016 stood at 516,046 tonnes as compared to 514,202 tonnes in same period a year before.
Cooking oil production plunged to 155,528 tonnes in July-Nov 2016 from 161,017 tonnes in corresponding period 2015.
However, wholesalers and retailers did not mention any reason for increasing the prices. They said as per the quality of various brands, some manufacturers have pushed up price of ghee by Rs8 per kg and Rs10 per litre in cooking oil. Some packers increased prices by Rs2 for one kg ghee and one litre cooking oil pouches.
Another leading packer has raised the price of ghee by Rs8 per kg and Rs10 per litre for cooking oil.
Meanwhile retailers said a number of packers had also enhanced the prices of five kg ghee tins and five litre cooking oil bottles by Rs50 while other packers pushed up prices by Rs25.
Some packers also increased the prices in phases by Rs5 per kg twice in the last 15-20 days.
A packer in Karachi said that palm olein and RBD palm oil prices have increased by $125 per tonne in the last four months, making an impact on local prices of the basic raw material for ghee and oil production.
He said palm olein and RBD palm olein rates on Tuesday were $787.50 and $780 per tonne in world markets. However, local rates of these two products were Rs4,270 per maund on Wednesday, up by Rs200 per maund in the last 15 days.
According to the figures of Pakistan Bureau of Statistics (PBS), palm oil imports in July-Dec 2016 fell to 1.214 million tonnes, costing $844m as compared to 1.327m tonnes worth $829m in same period 2015.
As per above figures, the average per tonne landing price of palm oil in July-Dec 2016 stood at $695 per tonne as compared to $625 per tonnes in same period 2015.
Soybean oil imports plunged sharply to 48,943 tonnes valuing $58m in July-Dec 2016 as compared to 75,852 tonnes costing $101m in corresponding period 2015.
Production of vegetable ghee in July-Nov 2016 stood at 516,046 tonnes as compared to 514,202 tonnes in same period a year before.
Cooking oil production plunged to 155,528 tonnes in July-Nov 2016 from 161,017 tonnes in corresponding period 2015.