GOVT TO IMPLEMENT IMMEDIATE INTERVENTION TO STABILISE BOTTLED COOKING OIL SUPPLY - ARMIZAN

PUTRAJAYA, March 7 (Bernama) -- The government will implement immediate intervention measures to stabilise the supply of bottled cooking oil in the market, said Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali.

He said the decision was made following a special briefing to Prime Minister Datuk Seri Anwar Ibrahim and Finance Minister II Datuk Seri Amir Hamzah Azizan this morning on the ongoing supply disruption.

“One of the main causes is the increased production costs due to the rising global crude palm oil (CPO) prices over the past two years. In the first two months of 2025, the average CPO price stood at  RM4,672.50 (per tonne) in January and RM4,759 in February.

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“As a result of prolonged high CPO prices, bottled cooking oil packaging companies have had to reduce production to control costs, as they are bound by the maximum price control order,” he said in a statement today.

For instance, he said, the retail price for a five-kg bottle of cooking oil is capped at RM30.90, significantly lower than the market price based on the global CPO rate of RM36.16.

To address this issue, Armizan said the government is considering providing a special incentive to packaging companies to ensure immediate supply release.

“In this regard, the Domestic Trade and Cost of Living Ministry (KPDN) has been directed to instruct packaging companies to restore sufficient production levels to meet demand.

“At the same time, KPDN is stepping up enforcement to prevent hoarding or misappropriation of cooking oil,” he said.

Armizan reaffirmed the ministry’s commitment to ensuring the swift implementation of these measures to stabilise production.

“KPDN highly appreciates the prompt attention and decision of the Prime Minister and the Finance Ministry in considering the allocation for the special incentive to ensure a stable supply of cooking oil, particularly for Ramadan and Syawal,” he said.

-- BERNAMA