The Malaysian authorities lowered the ceiling on retail prices for palm oil amid a decrease in the cost of crude palm oil (Crude palm oil, CPO).
For three-liter bottles of oil, the marginal price has decreased from 21,2 to 19,9 ringgits (about 4,60 euro), for two- liter bottles – from 14,3 to 13,5 ringgits (3,05 euro).
The product, which is packed in liter packages , will be sold for a maximum of 7,1 ringgits (1,55 euro).
The new measure will be effective in Malaysian retail chains from October 8 to November 7, 2022.
CPO prices in the country are determined by the Ministry of Plantation Industry and Commodities on the first day of each month. After that, the maximum retail price for bottled palm oil for the next month is announced.