KUALA LUMPUR, Oct 28 (Bernama) -- The price of cooking oil derived frompalm kernel will remain at present rates until the Chinese New Yearcelebration next year even though the price of crude palm oil has shot upto RM1,890 per tonne this month compared to RM1,400 a tonne earlier.
Minister of Domestic Trade and Consumer Affairs Tan Sri Muhyiddin Yassinsaid: "Cooking oil producers can still meet demand at the old price asthey still have lots of old stock."
At present the price of such cooking oil was fixed at RM2.50 sen per kilowhen sold in plastic bag and RM3.50 when offered in tin.
He earlier had a meeting with business houses and government agencies todiscuss supply and price of essential goods for the 2003/2004 festiveseason.
Tan Sri Muhyiddin said when grading eggs their weight would also be takeninto account apart from their size and the price of scraped coconut wouldalso be based on weight.
He said with the approach of Hari Raya Puasa, Christmas and the ChineseNew Year, the relevant agencies and companies had given an assurance thatsupply of all essential items was adequate and that they would be offered"at the controlled and reasonable price."
He said demand for chicken, beef, eggs, vegetables, coconut and fish wasexpected to increase by between 15 and 40 per cent during the festiveseason.
Tan Sri Muhyiddin also said that the price of chicken from the farm wasfixed at RM3.30 per kilo despite calls for an increase by poultry farmerswho cited increases in the price of chicken feed.