KUALA LUMPUR: The price of cooking oil will come down only if the crude palm oil price is below RM1,500 per tonne, said Datuk Shahrir Abdul Samad.
“When the CPO price comes down to a level where the Government does not need to subsidise, the cooking oil price will go down on its own.
“However, bear in mind that a decrease in the CPO price will hurt the small traders,” said Shahrir, adding that the price of Malaysia’s subsidised cooking oil was controlled at RM2.50 per kilo.
The Domestic Trade and Consumer Affairs Minister was responding to a question at a press conference at a hotel here yesterday after presenting the Fair Price Shops Award 2008/2009.
A total of 373 outlets were awarded the Fair Pricing certification.
Shahrir said this year the Government had spent RM1bil in cooking oil stabilisation scheme (COSS) to subsidise cooking oil.
More Recent Palm Oil News
- Palm Oil Prices to Hit $3,000/ton by June, May Reach $3,500/ton on El Nino – Mistry
- Crude Palm Oil Ends up on Bargain-Hunting
- Crude Palm Oil Ends up on Weather Concerns
- Crude Palm Oil Falls With More Tipped Next Week
- Crude Palm Oil Ends Up After Choppy Trade; May Rise More
- Crude Palm Oil Ends Down; Likely Higher Exports Limit Declines
- Crude Palm Oil Ends Off Highs; MYR2,440-MYR2,485/Ton Tipped Wed
- Crude Palm Oil Rises To 1-Week High On Export Demand
- Crude Palm Oil Ends Higher; May Test MYR2,500/Ton N/T
- Crude Palm Oil Rallies To 10-Week High On Tight Supplies
- Crude Palm Oil Ends Down; MYR2,370-MYR2,430/Ton Tipped Friday
- Crude Palm Oil Ends Up; Stockpiles Seen Easing
- Crude Palm Oil Ends Higher; May Rise More
- Crude Palm Oil Higher; Further Gains Likely N/T
- Crude Palm Oil Ends Up On Bargain Hunting; Further Gains Likely Friday
PRO Palm Oil Live Market News
- Asian CPO Ends Lower; Demand Outlook, Weather Cap Losses — Market Talk
- Malaysian PM Cash Market Prices for Palm Oil – April 18
- China Dalian Commodity Exchange Grain Stocks, Apr 18
- China Dalian Grain Futures Closing Prices, Volume
- Malaysian AM Cash Market Prices for Palm Oil for April 18
- Crude Palm Oil (CPO) May Move in Range Amid Holidays — Market Talk
- Southeast Asia Palm Oil Weather – Apr 17
- European veg oil PM, Palm Oil & Lauric Oil Prices – Apr 17
- European veg oil PM, Soft Oil Prices – Apr 17
- European veg oil AM, Soft Oil Prices – Apr 17
- European veg oil AM, Palm Oil & Lauric Oil Prices – Apr 17
- Rotterdam Soybean Prices – Apr 17
- Asian CPO Ends Lower but Upside Likely Intact — Market Talk
- Malaysian PM Cash Market Prices for Palm Oil – April 17
- China Dalian Commodity Exchange Grain Stocks, Apr 17