Govt sets ceiling price for bottled cooking oil
Free Malaysia Today (27/07/2021) - PUTRAJAYA: The government has set the maximum retail prices for pure palm cooking oil in bottled packaging effective Aug 1, with an assurance that consumers can obtain it at under RM30 for a 5kg bottle.
The domestic trade and consumer affairs ministry today listed the maximum retail prices for palm cooking oil at RM29.70 for a 5kg bottle, RM6.70 for 1kg, RM12.70 for 2kg and RM18.70 for 3kg.
It said in a statement that the government had agreed to implement the price control programme based on the threshold value of crude palm oil (CPO).
It said the price control was implemented following prime minister Muhyiddin Yassin’s announcement that the government was committed to helping ease the people’s cost of living and tackling the issue of a rise in CPO price in the world market which impacted the price of unsubsidised pure cooking oil in the local market.
“With the implementation of price control for this cooking oil, consumers are assured of obtaining the cooking oil at under RM30 for 5kg and also in other quantities regardless of the current palm oil price position,” it added.
The ministry said the maximum retail prices were set under the Price Control and Anti-Profiteering (Maximum Pricing for Cooking Oil) Order 2021 by also taking into account the views of agencies, the industry and market price trends.
Read more at https://www.freemalaysiatoday.com/category/nation/2021/07/27/govt-sets-ceiling-price-for-bottled-cooking-oil/