KUALA LUMPUR (Oct 3): The Ministry of Domestic Trade and Consumer Affairs has further reduced the ceiling price for bottled pure palm cooking oil following the drop in crude palm oil prices.

Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said that the maximum retail price for the 5kg bottled cooking oil, for the period of Oct 8 to Nov 7, has been reduced to RM31.50, from the current RM33.50.

He added that retail price for cooking oil sold in 3kg bottles has been reduced to RM19.90 from RM21.10, while that for 2kg bottles has been lowered to RM13.50 from RM14.30. Meanwhile, the retail price for 1kg bottles has been reduced to RM7.10, from RM7.50.

During a press conference at the Parliament building on Monday (Oct 3), Nanta said that the ministry has recorded 13 cases of government's price control law being violated.

He reiterated that any party that sells above the maximum price may be subject to penalties under the Price Control and Anti-Profiteering Act 2011.

Offences by any individual may be fined by the court up to RM100,000 or be imprisoned not exceeding three years, or both. Offences by a company can be fined up to RM500,000.

Starting from July 1, Putrajaya discontinued subsidies for palm cooking oil in bottles of 2kg, 3kg and 5kg.

However, the government continues to subsidise 1kg bottled cooking oil, which is packed in polybags and priced at RM2.50 each.

On Aug 1, the Special Task Force on Jihad Against Inflation announced that the maximum price for pure palm cooking oil would be announced on the 1st of every month.