MARKET DEVELOPMENT
Jitters Over Imminent Hike in Cooking Oil Prices
Jitters Over Imminent Hike in Cooking Oil Prices
21/10/2016 (Borneo Post) - People here are apprehensive over the increase of cooking oil prices when the subsidy for it is lifted on Nov 1.
Shafarosli Shapiee, a satay seller disagreed with the move made by the government and hoped the government would review its decision.
“Now everything is already expensive and how are we expected to live like this. If the price of everything goes up, I have to increase the price of my satay too and when I increase the price of my satay, do you think my customers would not complain?” he said.
Another food business owner, Hanifah Ibrahim said the price increase would be bad news for her.
“My stall is currently closed as I am doing some major renovation on my house. I cannot imagine what my customer will say when I reopen and the price of my food is increased. I just hope they will continue to support businesses like ours,” she said adding that the government should subsidise all the basic needs if they really want to help the people.
For 21 –year- old Nur Shahira Mohd Fizal, people would think twice about eating out as food prices would increase when the subsidy was removed.
“Of course this will impact the consumers. The cost of food rises and yet salaries do not match with what is happening now. Consumers could resort to bringing home-cooked meals to the office but how practical is it?”
According to Zuraina Sani, a food caterer here, the increase would burden the people because cooking oil is essential in every home.
“With the current economy, and with the level of unemployment still at an alarming state, the government’s decision to increase the price of cooking oil will irk the people”.
Everett Alden Wilson, a hotel executive, questioned the need to increase the price of cooking oil when the nation is a top producer of palm oil.
“Palm oil is our nation’s source of revenue and the cooking oils are from oil palms planted here, in Malaysia. Why must there be an increase? I thought the government’s duty is to help us, not to burden us.”
Shafarosli Shapiee, a satay seller disagreed with the move made by the government and hoped the government would review its decision.
“Now everything is already expensive and how are we expected to live like this. If the price of everything goes up, I have to increase the price of my satay too and when I increase the price of my satay, do you think my customers would not complain?” he said.
Another food business owner, Hanifah Ibrahim said the price increase would be bad news for her.
“My stall is currently closed as I am doing some major renovation on my house. I cannot imagine what my customer will say when I reopen and the price of my food is increased. I just hope they will continue to support businesses like ours,” she said adding that the government should subsidise all the basic needs if they really want to help the people.
For 21 –year- old Nur Shahira Mohd Fizal, people would think twice about eating out as food prices would increase when the subsidy was removed.
“Of course this will impact the consumers. The cost of food rises and yet salaries do not match with what is happening now. Consumers could resort to bringing home-cooked meals to the office but how practical is it?”
According to Zuraina Sani, a food caterer here, the increase would burden the people because cooking oil is essential in every home.
“With the current economy, and with the level of unemployment still at an alarming state, the government’s decision to increase the price of cooking oil will irk the people”.
Everett Alden Wilson, a hotel executive, questioned the need to increase the price of cooking oil when the nation is a top producer of palm oil.
“Palm oil is our nation’s source of revenue and the cooking oils are from oil palms planted here, in Malaysia. Why must there be an increase? I thought the government’s duty is to help us, not to burden us.”