KARACHI: Despite a 50% reduction in the palm oil price in Pakistan today in the international market, the price of edible oil could not be reduced at the local level. In the international market, Today palm oil market price reached the level of 3541 Malaysian ringgit. The price of palm oil had exceeded 7200 Malaysian ringgit at the end of April. During 6 months, the palm oil 1kg price today has decreased by 50%.
Palm Oil Price in Pakistan today December 2022
In April, Malaysian palm oil remained at the level of 1600 dollars per ton, while in the first week of September, the price fell to the level of 786 dollars per ton. The price of edible oil could not be reduced at the local level and consumers are forced to buy expensive edible oil. Reputable brands are selling edible oil at more than Rs 550 per liter and second tier brands are selling edible oil at up to Rs 450 per liter.