ISLAMABAD: The prices of ghee and cooking oil have further reduced in Pakistan, here on Tuesday.

As per the Dealers Association, the price of oil and ghee of A brand and B brand has decreased by 70 to 75 rupees during a month.

A-brand oil has become cheaper by Rs 75 to Rs 525 per liter, and A-brand ghee has reduced by Rs 25 to Rs 525. Similarly, B-brand ghee and oil are being sold at Rs 380 per liter after being cheaper by Rs 70.

The consumption of cooking oil and ghee in Pakistan stands out compared to other nations due to the country’s large population and diverse culinary preferences.

Factors such as population growth, dietary habits, urbanization, and rising disposable income contribute to significant oil consumption, influencing prices in the market. Importantly, the oil market relies heavily on imported palm oil, with local sources accounting for less than 20% of total consumption.

Commonly used cooking oils in Pakistan include mustard oil, soybean oil, sunflower oil, palm oil, and groundnut oil. Key players in the cooking oil industry in Pakistan include Mehran Cooking Oil, Dewan Vegetable Oil, National Foods Limited, Kisan Cooking Oil, Soya Supreme Cooking Oil, Saffola Cooking Oil, Canola Cooking Oil, and Sunflower Cooking Oil.

While on the other hand, an increase of 76.57 percent on an annual basis was recorded in the export of rice from the country during the current financial year.

According to the data of the State Bank, during the period from July to March 2024, the volume of exports was recorded at 2.690 billion dollars, which is 76.57% more than the same period of the previous financial year.

In the same period of the previous financial year, the export of rice earned 1.522 billion dollars in foreign exchange; in March, the export volume was recorded at 355.44 million dollars, compared to 374.23 million dollars in February and 200.84 million dollars in March last year.

Read More: Cooking oil & ghee prices decrease in Pakistan: Check new rates here

Billions of dollars of foreign exchange were earned in the first nine months of the financial year. The export volume of basmati rice was recorded at 631.33 million dollars, which is 45% more than the 435.53 million dollars of the same period of the previous financial year.

Non-basmati rice in the first nine months of the financial year. The volume of exports was recorded at 2.058 million dollars, which is 89.37% higher than the 1.087 billion dollars of the same period of the previous financial year.

Cooking Oil Fresh Prices 2024

Cooking oil price in Pakistan 2024