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The Government may set a Ceiling Price for Cooking Oil after absurd price hike

If you had going shopping for groceries recently, you may have notice that the price of cooking oil had increased by nearly 100% when compared to the prices from December 2019.

Given the absurd price hike, the Malaysian Government, through the Domestic Trade and Consumer Affairs Ministry (KPDNHEP), will conduct a study to set a ceiling price for the 5kg bottled cooking oil based on the current market price.

As reported by Bernama, KPDNHEP Deputy Minister, Datuk Rosol Wahid said that his team will then recommend the ceiling price to the Plantation Industries, Commodities Ministry and Finance Ministry for it to be fixed.

Source: Malay Mail

“Meetings will be held on how to overcome this problem. We will see the decision in the meeting later.” he told Bernama after visiting and inspecting the cooking oil supplies and compliance with standard operating procedures (SOP).

He added that the price hike is mainly due to an increase in the price of crude palm oil and he assured that the authorities are working hard to ensure that people are not affected by the COVID-19 situation.

Rosol also refuted the opposition representative’s claims that recycled oil was being repackaged into the 1kg polybag of cooking oil which qualifies for government subsidy.

Source: The Sun Daily

He also revealed that a total of 590,876 business premises had been inspected up to date, and they include petrol stations, restaurants, supermarkets and shopping malls.

“There were 346 compounds issued on offenders who did not comply with the prescribed SOPs. KPDNHEP issued 160 compounds during the total lockdown period from 1 to 11 June involving a total value of RM1.091 million.” he said.

Meanwhile, he said that about half of the KPDNHEP enforcement personnel had been vaccinated through the National COVID-19 Immunisation Programme (PICK) and he requested the Ministry of Science, Technology and Innovation (MOSTI) to prioritise the enforcement personnel when it comes to the vaccination as they are always in contact with members of the public.

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