MARKET DEVELOPMENT
Government Assures Public Of Adequate Supply Of Cooking Oil
Government Assures Public Of Adequate Supply Of Cooking Oil
04/11/2016 (Bernama) - The government today assured the people there is adequate supply of cooking oil in the country despite a shortage of the product in a few areas.
Domestic Trade, Cooperatives and Consumerism Ministry director of enforcement Mohd Roslan Mahayudin, who gave the assurance, advised the people to report the areas experiencing a shortage for the product to be restocked.
"It is needless for consumers to panic. There is adequate supply of cooking oil," he told reporters after an inspection at the Bukit Mahkota Tesco hypermarket here.
Mohd Roslan said 2,600 ministry enforcement officers and 1,500 price monitoring officers were visiting outlets reported to be without cooking oil or suspected to be hoarding the product.
The ministry had activated the Strategic Information and Operations Centre to enable the public to channel information and obtain explanation on the cooking oil situation, he said.
Mohd Roslan also said that the ministry would consider a proposal to establish a cooking oil pricing mechanism.
"We will study all aspects of determining a suitable ceiling price," he said.
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi had said that the ministry should consider the proposal to set up the pricing mechanism.
Effective Nov 1, the price of a 1kg pack of cooking oil is retained at RM2.50 while the prices of the product in bottles are determined by market forces.
Mohd Roslan said the ministry had inspected 14,440 premises in the country and seized almost RM113,300 worth of cooking oil between Oct 21 and yesterday.
He also said that it was an offence under Customs regulations to take cooking oil out of the country.
Traders who want to export the product have to obtain the approval of the Malaysian Palm Oil Board, he said.
On the list of the new cooking oil prices circulating on social media and the Internet, Mohd Roslan denied that it was from the ministry.
"The ministry did not issue the list. The ministry and the Malaysia Competition Commission are investigating how the list came about and whether there is any pact to determine prices.
"It is an offence for any individual to determine prices," he said.
Domestic Trade, Cooperatives and Consumerism Ministry director of enforcement Mohd Roslan Mahayudin, who gave the assurance, advised the people to report the areas experiencing a shortage for the product to be restocked.
"It is needless for consumers to panic. There is adequate supply of cooking oil," he told reporters after an inspection at the Bukit Mahkota Tesco hypermarket here.
Mohd Roslan said 2,600 ministry enforcement officers and 1,500 price monitoring officers were visiting outlets reported to be without cooking oil or suspected to be hoarding the product.
The ministry had activated the Strategic Information and Operations Centre to enable the public to channel information and obtain explanation on the cooking oil situation, he said.
Mohd Roslan also said that the ministry would consider a proposal to establish a cooking oil pricing mechanism.
"We will study all aspects of determining a suitable ceiling price," he said.
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi had said that the ministry should consider the proposal to set up the pricing mechanism.
Effective Nov 1, the price of a 1kg pack of cooking oil is retained at RM2.50 while the prices of the product in bottles are determined by market forces.
Mohd Roslan said the ministry had inspected 14,440 premises in the country and seized almost RM113,300 worth of cooking oil between Oct 21 and yesterday.
He also said that it was an offence under Customs regulations to take cooking oil out of the country.
Traders who want to export the product have to obtain the approval of the Malaysian Palm Oil Board, he said.
On the list of the new cooking oil prices circulating on social media and the Internet, Mohd Roslan denied that it was from the ministry.
"The ministry did not issue the list. The ministry and the Malaysia Competition Commission are investigating how the list came about and whether there is any pact to determine prices.
"It is an offence for any individual to determine prices," he said.