Chairman of the Jihad Tangani Inflasi task force, Tan Sri Annuar Musa has said that the price of unsubsidised cooking oil is expected to fall within the next two weeks. This is as several oil manufacturers have hinted that they will gradually reduce the price by 5% to 10%.

Tan Sri Annuar, who is also the Minister of Communications and Multimedia, stated that his task force had recently raised the issue of unsubsidised cooking oil and its price with relevant industry players. The discussion involved cooking oil manufacturers, the Malaysian Palm Oil Board (MPOB), and the Malaysian Palm Oil Council (MPOC).

“I am not forcing (them to do so), only at this point (in) time, I want the industry to have a sense of responsibility, and not let the government get bogged down with problems because ultimately, it is the companies that determine (the price),” remarked Tan Sri Annuar.

The price of cooking oil had made headlines recently due to its significant increase – as much as RM10 per bottle – following the government’s decision to remove the subsidy for bottled cooking oil starting from 1 July 2022. Prior to that, the government enforced a maximum retail price for bottled palm cooking oil as a temporary measure to ease the financial burden of the people. Meanwhile, the subsidy for cooking oil in 1kg polybag packages is retained. 

(Source: Malay Mail) 

• TAGS:
• Bottled Cooking Oil
• Bottled Cooking Oil Subsidy
• Cooking Oil
• Jihad Tangani Inflasi
• Malaysian Palm Oil Board (MPOB)
• Malaysian Palm Oil Council (MPOC)
• Tan Sri Annuar Musa