by SHAFIQQUL ALIFF / pic by MUHD AMIN NAHARUL

THE government will remove ceiling prices for bottled cooking oil from July 1, on the heels of a rollback of subsidies for chicken and eggs announced earlier. 

Minister of Domestic Trade and Consumer Affairs Datuk Seri Alexandar Nanta Linggi said the price control only involves consumer oil in bottles of 2kg, 3kg and 5kg. Prices of oil sold in 1kg packets will remain. 

He said the move is partly to stabilise the price and supply of cooking oil in the market. 

“The government bears almost RM20 million a month and the subsidy scheme, implemented in August last year, was meant to be a temporary three-month move but the government extended it until now.

“However, we will maintain the subsidy for the 1kg cooking oil in polybags, capped at a ceiling price of RM2.50 and once market prices kick in, the ministry will actively monitor to ensure there are no unreasonable hikes,” he said at a press conference today.

Alexander gave assurance that chicken would cost between RM10 and RM12.50 per kg after the price ceiling for the category is removed on June 30.

“The Federation of Livestock Farmers Association of Malaysia has assured me that chicken prices won’t reach RM12.50. Maybe be a bit more than RM10, but I cannot confirm how much it will be exactly.

“However, we have warned the industry against hiking up the price of chicken excessively and we will not hesitate to take stern action against those found guilty of violating anti-profiteering laws in this matter,” he said.