Bottled cooking oil subsidies, chicken and eggs price control to be abolished July 1

File photo depicting KPDNHEP personnel conducting a routine inspection on the prices of cooking oil at a local supermarket.

KUCHING, June 22: The subsidies for bottled cooking oil and ceiling price for chicken and chicken eggs will not be continued effective July 1, 2022.

Minister of Domestic Trade and Consumer Affairs, Dato Sri Alexander Nanta Linggi said the move will affect bottled palm cooking oil in 2, 3 and 5kg sizes.

However, the subsidy for cooking oil in 1kg polybag packages priced at RM2.50 per packet will continue.

“The subsidies for the bottled cooking oil was a temporary programme and should have been implemented for three months only but it went on until today.

“The subsidies for the goods cost the government up to RM20 million a month. Thus, we feel it is time to abolish it and focus more on helping the needy,” he said at a press conference held in Putrajaya yesterday (June 21).

Previously, the government set a maximum retail price of RM29.70 for palm cooking oil in bottle packaging effective Aug 1, 2021. The price of 1kg bottle was RM6.70, 2kg at RM12.70 and 3kg at RM18.70.

Meanwhile, the maximum retail price of chicken and eggs in the peninsula is set at RM8.90 per kg for standard chicken and RM9.90 per kg for super whole chicken (slaughtered and cleaned without legs, head, liver and gizzards) presently.

Nanta said the move to abolish the price control for chicken and eggs and was to ensure more stable supplies of food in the market.

“Chicken prices will float and depend on market forces. The needy group will be assisted later with targeted financial aid to be announced by the Finance Ministry,” he added. — DayakDaily