Domestic trade minister urges industry players to reduce cooking oil price as world’s crude palm oil price is down

KUALA LUMPUR, July 21 — The country’s industry players are urged to reduce the price of cooking oil in tandem with the drop in the world’s crude palm oil price from its highest level since two months ago.

“So, we hope that the industry players will also set a suitable price at the retail level,” he said at a press conference. Yesterday, Nanta reportedly said that the crude palm oil price dropped from RM7,000 to RM3,600 per tonne this week and the price of bottled cooking oil in the country to drop soon too.

“We need to discuss how to control or what should be controlled and not just the price while the MoH’s views on the issues should be studied,” he said.

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