Major Hike in Prices of Ghee and Cooking Oil Expected

The Punjab government expects a major increase in the prices of ghee and cooking oil due to hoarding of the commodity by unscrupulous elements in the province. This has been stated by the Directorate General Industries Punjab in a letter issued to all Commissioners and Deputy Commissioners in Punjab. The Punjab government has decided to conduct stocktaking of ghee and cooking oil across the province to control the prices of the commodity. According to the Directorate General Industries Punjab, the ghee and cooking oil prices are showing an increasing trend due to the constant increase in palm oil prices in the international market and some other factors. It is expected that the prices of ghee and cooking oil may rise in the coming days. There are strong chances of hoarding by unscrupulous elements to take advantage of this situation. Hence its available stock with dealers/stockists, supply chain and price situation should be closely watched. The districts having ghee mills have also been advised to keep an eye on stocks in ghee mills. Furthermore, any bulk transfer/transactions of ghee should be verified to keep a check on efforts fleece the general public.