KUALA LUMPUR, April 3 — The government and the industry have agreed to maintain the retail prices of pure cooking oil from April 8 to May 7 to ensure that consumers are not affected by the increase in the prices ahead of the Hari Raya Aidilfitri celebration.
Domestic Trade and Cost of Living Minister Datuk Seri Salahuddin Ayub said the maximum retail prices for bottled cooking oil were RM 6.90 (1kg bottle), RM13.30 (2kg), RM19.60 (3kg) and RM 30.90 (5kg).
“Maintaining the retail prices of bottled cooking oil involves the payment of subsidies to cooking oil manufacturers in the form of reimbursement claims based on the actual claim value.
“Those who sell above the ceiling prices can be taken action under the Price Control and Anti-Profiteering Act 2011 and can be penalised where individuals can be fined RM100,000 or imprisoned for not more than three years or both, while companies can be fined up to RM500,000,” he told reports at the Parliament building here today.
Salahuddin also said the ministry would continue its monitoring in addition to encouraging consumers to channel information regarding the violation of laws under KPDN’s jurisdiction.
“Information can be sent officially through the eaduan.kpdn.gov.my portal, Whatsapp application at 019-2794317 and Ez ADU KPDN,” he said.
Earlier, he informed that there was an increase in the price of crude palm oil for March compared to the previous month which had exceeded RM4,000 per metric tonne.
He said the average price of crude palm oil for last month was RM4,139 per metric tonne compared to RM3,908 per metric tonne in February thus causing an increase in the retail prices of bottled cooking oil based on the moveable ceiling price. — Bernama
