Are you worried that the price of pure palm cooking oil will skyrocket after the government removed the top price measure for bottled pure palm cooking oil?
According to grocery store operators, the price of 5kg pure palm oil may go up to RM37.80 per barrel, which is expected to increase by RM8.10 compared to the current RM29.70 per barrel.
If you are worried that the price of pure palm cooking oil will go up from July, you can buy cooking oil in June first. However, it is not advisable to stock up too much cooking oil here as palm oil futures prices are already on a downward trend and a price drop for cooking oil cannot be ruled out in the next few months.
According to Bloomberg, palm oil futures for September delivery have fallen about 6.5% to RM4658 per tonne, the lowest price since December last year. Palm oil futures prices have fallen for six consecutive days, the longest streak of declines since March.
Palm oil futures prices are on a downward trend, which is mainly due to a surge in exports from Indonesia.
In fact, not only palm oil futures prices appear to show a downward trend, even other commodities such as coal and crude oil prices are also declining.
