Edible oil expensive by Rs12/litre

KARACHI: The price of edible oil has surged by a whopping Rs12 per litre in the retail market to Rs177, Geo News reported Wednesday.

General Secretary Karachi Retail Grocers’ Group, Fareed Qureshi told Geo News that the raise was made by an edible oil manufacturing company in the wake of increase in the commodity’s price in international market.

He said an increase of Rs90 has been made in the rate of 16-kilogram container of Ghee and also of oil, pushing their prices to Rs2,440.

According to experts, Pakistan’s annual import of edible oil stands at Rs3 billion.

The price of edible oil in international market has climbed from 726 dollars per ton in June to 1,141 dollars now.