ASEANEWS-HEADLINE | Paper Edition: KUALA LUMPUR, Malaysia- Eye in the sky
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Downside to good price of palm oil
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PETALING JAYA: The current high price of crude palm oil (CPO), while bringing higher revenue for the country, has a downside to it.
Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said the high price is expected to affect prices of other food products as CPO is a major ingredient in many food items.
However, she said the price is expected to go down to a more stable level as the supply of vegetable oil is recovering, adding that this would stop the price of food products from further escalating.
“The government has put measures in place to control the impact of the rising CPO price on food products by controlling the price of essential food items.
“As for the local cooking oil market, the government has set a control price for the 1kg polybag palm cooking oil at RM2.50, which is dedicated to the lower-income group.
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READ MORE: https://www.thesundaily.my/local/downside-to-good-price-of-palm-oil-CF9160545
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