Gov't working on new cooking oil price mechanism

SUBANG JAYA: A price determination mechanism for subsidised bottled cooking oil will be announced soon after a full research is conducted by the Domestic Trade, Cooperatives and Consumerism Ministry, said its Minister Datuk Seri Hamzah Zainudin.
He said a research is being done to look into whether consumers would be willing to pay for the price of the one-litre bottle.
"Therefore, let me announce to the public once all research is done in determining the best price mechanism," he said after the Malaysia Retail Chain Association (MRCA) 2016 charity run, jointly organised by MRCA and the ministry, here today.
Previously Hamzah announced that subsidised one-litre bottled cooking oil would be introduced in the near future to provide more variety and choice of subsidised cooking oil which currently is produced in 1kg plastic packets to consumers.
However, the price of the new 1kg bottled cooking oil will be slightly more as the packaging cost of cooking oil in plastic packets is not more than 10 sen while bottled cooking oil will cost more than 40 sen each. — Bernama