KUALA LUMPUR: There are no immediate plans to increase prices of PPB Group Bhd’s consumer products amid the pricing volatility for commodities, says FFM Bhd chief executive officer Jeremy Goon.
He noted that the status quo on prices was due to the current weaker consumer sentiment as consumers were looking for more value-for-money products.
“One of the products that has been contributing to that (lower sales) was the cooking oil segment.
“It is challenging to manage because there is a cooking oil subsidy scheme which affects not just our brands but also cooking oil brands across the board,” he said during a media and analyst briefing on PPB Group’s second quarter and the first-half financial performance ended June 30, 2023, here yesterday.
FFM is 80%-owned by PPB Group. The company is the largest flour miller in Malaysia and has interests in flour milling operations in Vietnam, Indonesia, Thailand and China. — Bernama