Despite rise in CPO value, cooking oil price cap unchanged
01/12/2022 (Free Malaysia Today), Petaling Jaya - Despite a rise in crude palm oil (CPO) prices in November, the government’s ceiling price for bottled cooking oil will remain unchanged for the next month.
Domestic trade and consumer affairs secretary-general Azman Yusof said the price of a 5kg bottle of cooking oil will remain at RM30.90 from Dec 8 to Jan 7.
A 3kg bottle of cooking oil will retail at RM19.60, RM13.30 for 2kg and RM6.90 for 1kg.
“These prices are the result of cooperation from the cooking oil industry, who agreed to retain the ceiling prices for the month of December despite an increase in the average CPO price in November compared to the preceding month,” said Azman.
Action can be taken against anyone selling cooking oil above the maximum ceiling price, under the Price Control and Anti-Profiteering Act 2011.