PUTRAJAYA (July 27): The government has set maximum retail prices for pure palm oil in bottled packaging effective August 1, with assurances that consumers can get the merchandise under $ 30. RM for a five kilogram (kg) bottle.
The Ministry of Home Trade and Consumer Affairs today reported that the maximum retail prices for cooking palm oil are RM29.70 for a five kg bottle, RM 6.70 for a kg, RM12.70 for two kg and RM18.70 for three kg.
He said in a statement that the government had agreed to implement the Crude Palm Oil Threshold (CPO) -based price control program, under which the price of five kg of palm oil cooking was decided to be controlled so that it does not exceed RM 30 per bottle.
He said the price controls were implemented following the announcement by Prime Minister Tan Sri Muhyiddin Yassin that the government was committed to helping reduce the cost of living of the people and to s ‘tackle the problem of the rising price of CPO in the world market, which has had an impact on the price of pure, non-subsidized products. cooking oil in the local market.
“With the implementation of the price control of this cooking oil, consumers are assured of getting the cooking oil at less than RM30 per five kg and also in other quantities regardless of the current position. palm oil prices, ”he added.
The ministry said the maximum retail prices were set under the Price Control and Profit Fighting (Maximum Pricing of Cooking Oil) Order 2021 also taking into account the points of view of agencies, industry and market price trends.