02/08/2022 (The Malaysian Reserve) - THE ceiling price of pure cooking oil in 5kg bottles will be set at RM34.70 at the retail level nationwide including Sabah, Sarawak and Labuan effective Aug 8, 2022.

Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said this ceiling price was determined based on price simulation at the retailer level.

He said the setting of the ceiling price was also made based on aspects of contingent costs such as logistics, as well as retailers’ situations where they need to use up the current supply purchased at the old price.

“The decision reached through the meeting of the Special Task Force on Jihad Against Inflation yesterday, among other things, saw the mechanism for setting the ceiling price of non-subsidised bottled cooking oil determined on a monthly basis for the whole of Malaysia,” he said in a statement today.

Nanta Linggi also said the average monthly price of crude palm oil (CPO) will be determined by the Industry, Plantation, and Commodities Ministry early in the month.

“It will be followed by the announcement of the ceiling price of bottled pure cooking oil for the month which will come into effect every eighth day of the month until the seventh day of the following month,” he said.

In addition, Nanta Linggi said the prohibition on the export of unsubsidised pure cooking oil in all forms of polybag packaging was gazetted yesterday to avoid confusion among consumers and exporters.

It will also increase the effectiveness of monitoring to reduce the leakage of controlled and subsidised goods.

https://themalaysianreserve.com/2022/08/02/ceiling-price-of-5kg-cooking-oil-set-at-rm34-70/