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
- 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
- Crude Palm Oil Ends Down; Prices Could Be Bottoming -IOI Exec
PRO Palm Oil Live Market News
- Rotterdam Soybean Prices – Dec 13
- European veg oil AM, Palm Oil & Lauric Oil Prices – Dec 13
- European veg oil AM, Soft Oil Prices – Dec 13
- Asian CPO Eases; Price Correction Healthy After Recent Rally
- Malaysian PM Cash Market Prices for Palm Oil – Dec 13
- China Dalian Commodity Exchange Grain Stocks, Dec 13
- China Dalian Grain Futures Closing Prices, Volume
- Malaysian AM Cash Market Prices for Palm Oil – Dec 13
- Crude Palm Oil (CPO) Futures Seen Lower on CBOT Soy Weakness
- Southeast Asia Palm Oil Weather – Dec 12
- CME Group Agricultural Estimated Volumes At 5:00 p.m. EST
- CME Group Agricultural Estimated Volumes At 3:00 p.m. EST
- CME Group Agricultural Estimated Volumes At 2:00 p.m. EST
- CME Group Agricultural Estimated Volumes At 1:00 p.m. EST
- CME Group Agricultural Estimated Volumes At 12:00 p.m. EST