International palm oil prices plummet by 100 USD

The international market witnessed a significant drop in the prices of palm oil, with a decrease of $100, ARY News reported on Friday, Quoting foreign media.

According to the international media reports, the price of palm oil was fixed at $1600 per ton in August 2022, meanwhile, yesterday, palm oil was being traded at $705 per ton, further highlighting the downward trend.

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Sources claims that, despite drastic decline witnessed in prices of palm oil in the international market, some brands have slightly reduced the prices ranging from Rs. 60 to 80 per liter, primarily targeted for utility stores.

Meanwhile, the premium brands continue to maintain their higher price range, with cooking oil selling above Rs. 550 to 570 per liter.