Ghee is just butter with the milk solids and water removed. It is really just a form of clarified butter. There is nothing rancid about it.

You can make it on a stove with very little effort. Just melt unsalted butter over low heat and cook until it is a clear golden liquid. Spoon off any of the froth that appears on top. Continue to cook until it no longer froths. The milk solids will be at the bottom and the water should have all boiled off. The golden liquid on top is ghee.