Around half of the manufacturing units of ghee and cooking oil have stopped the production in Pakistan due to non-availability of the raw material.
This retarded production of ghee and cooking oil may cause another hick and spike in prices in the local market.
Following the reluctance shown by manufacturers the edible oil and ghee, rates are less likely to come down not only because of technical reasons but due to lack of regulatory oversight too, and the retailers were charging exorbitantly high prices.
The Pakistan Vanaspati Ghee and Oil Manufacturers Association (PVMA) has written a letter to the ministry of industries and the finance ministry that the ghee and edible oil rates cannot be reduced further, due to high palm oil prices and the continuous depreciation of the rupee.
