Cut cooking oil price by 10% in two weeks, manufacturers told

 

The head of the anti-inflation task force says the price of unsubsidised cooking oil is still expensive.

KUALA LUMPUR: Communications and multimedia minister Annuar Musa has called on cooking oil manufacturers to reduce the price of bottled cooking oil by 10% within two weeks.

He said the price reduction is necessary since the price of oil palm fruit has gone down by 25% over the last two weeks.

Annuar, who is also the chairman of the jihad inflation task force hopes that there will be an understanding from the cooking oil manufacturers to reduce the price of their products quickly.

“The price of unsubsidised cooking oil is still expensive,” he told reporters during a press conference in Parliament today.

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“A report that was sent to the task force today showed that retailers have begun to decrease the price (of bottled cooking oil), but then it is not a widespread practice.

“We would like to seek the cooperation of all manufacturers to reduce the price (of bottled cooking oil), which is at RM42 per bottle by 10% within the next two weeks.”

On the price of chicken, Annuar said the task force is content with the prices that are offered under the ceiling price fixed in the markets.

“The weekly average price is RM9.25 per kg as at July 9, but we have states like Pahang where prices are as low as RM8.95 per kg,” he added.

The ceiling price fixed by the government is RM9.40 per kg. - FMT