Palm cooking oil in Malaysia shot up by 44% on the first day price control was lifted! Here is what you need to know…
No More Price Control For Palm Cooking Oil!
On 21 June 2022, the Malaysian government announced that price control for palm cooking oil would be removed starting 1 July 2022.
Since 1 August 2021, palm cooking oil was subsidised with the price fixed at :
- 5 kg palm cooking oil : RM 29.70 per bottle
- 3 kg palm cooking oil : RM 18.70 per bottle
- 2 kg palm cooking oil : RM 12.70 per bottle
- 1 kg palm cooking oil : RM 6.70 per bottle
While Malaysians were hoping that the government would U-turn on the price control of palm cooking oil like it did for chicken, that didn’t happen.
Palm Cooking Oil Price In Malaysia Shoots Up By 44%!
On 1 July 2022, Malaysians finally realised how much palm oil prices have gone up since the price control and subsidy scheme was put in place last year.
Depending on the brand and bottle size, palm cooking oil prices have shot up between 38% and 44%.
|Brand||Bottle Size||Old Price||New Price||Difference|
|Alif||1 kg||RM 6.70||RM 9.50||+42%|
|Buruh||1 kg||RM 6.70||RM 9.45||+41%|
|Saji||1 kg||RM 6.70||RM 9.50||+42%|
|Seri Murni||1 kg||RM 6.70||RM 9.25||+38%|
|Vesawit||1 kg||RM 6.70||RM 9.40||+40%|
|Alif||2 kg||RM 12.70||RM 18.05||+42%|
|Buruh||2 kg||RM 12.70||RM 18.15||+43%|
|Saji||2 kg||RM 12.70||RM 17.90||+41%|
|Seri Murni||2 kg||RM 12.70||RM 18.10||+43%|
|Vesawit||2 kg||RM 12.70||RM 18.25||+44%|
|Buruh||3 kg||RM 18.70||RM 26.95||+44%|
|Vesawit||3 kg||RM 18.70||RM 26.65||+43%|
|Alif||5 kg||RM 29.70||RM 42.50||+43%|
|Buruh||5 kg||RM 29.70||RM 42.60||+43%|
|Saji||5 kg||RM 29.70||RM 42.20||+42%|
|Seri Murni||5 kg||RM 29.70||RM 42.70||+44%|
|Vesawit||5 kg||RM 29.70||RM 42.25||+42%|
However, the government is maintaining the subsidy for palm oil sold in 1 kg polybag packages, which will remain priced at RM 2.50 per packet.
The abolishment of the palm cooking oil subsidy would save the government about RM 20 million a month.
On social media, Malaysians are generally resigned to the fact that they will have to put up with increased food prices going forward. Some have suggested buying an air fryer, or boiling / steaming food, to cut down on the use of oil.
Looking at the bright side of things – perhaps, this will spur Malaysians to adopt a healthier diet with less fried foods!
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