Minister: Palm oil industry agrees to reduce cooking oil prices in stages

The palm oil industry has agreed in principle to make adjustments to reduce prices of cooking oil in stages, based on the current market price of crude palm oil, said Special Task Force on Jihad Against Inflation chairperson Annuar Musa.

Annuar, who is also the communications and multimedia minister, said the industry had agreed with the special task force’s recommendation on the price reduction, which is expected to be implemented soon.