BOTTLED palm oil cooking oil will no longer be subsidised come July 1, Domestic Trade and Consumer Affairs Minister Alexander Nanta Linggi said today.

This will apply to cooking oil sold in 2kg, 3kg and 5kg bottles, which currently have maximum retail prices capped at RM12.70, RM18.70 and RM29.70 respectively.

However, the government subsidy for palm oil cooking oil sold in 1kg poly bag packets at RM2.50, will remain, Nanta told a press conference today.

“The subsidy for bottled cooking oil will be removed on July 1. 

“But I repeat, to be clear, this does not apply to the RM2.50 poly bags of 1kg cooking oil. This will be continued. The subsidy is only removed for cooking oil in bottles,” he said.

The subsidy scheme for palm oil cooking oil was implemented on August 1 last year and was meant to last only three months, but the government decided to extend it as living costs rose.

Nanta said the subsidy cost Putrajaya up to RM20 million a month.

Earlier, he attended a dialogue session with industry players and food producing groups, reminding them that as costs rise and subsidies are removed, the ministry will still monitor for profiteering and will use the law against those who hike up prices drastically. – June 21, 2022.