PUTRAJAYA – The government has set the maximum retail prices for pure palm cooking oil in bottled packaging effective August 1, with an assurance that consumers can obtain the commodity at under RM30 for a five kilogramme 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), whereby the price of 5kg of palm cooking oil will be controlled so that it does not exceed RM30 a bottle.
It said the price control was implemented following Prime Minister Tan Sri Muhyiddin Yassin’s announcement that the government was committed to helping ease the people’s cost of living and tackling the global rise in CPO price which impacted the price of unsubsidised pure cooking oil locally.
The ministry said the maximum retail prices were set under the Price Control and Anti-Profiteering (Maximum Pricing for Cooking Oil) Order 2021, taking into account the views of agencies, the industry, and market price trends. – Bernama, July 27, 2021
