KUCHING, July 22: The price of unsubsidised bottled cooking oil sold in the market should be adjusted according to Crude Palm Oil (CPO) price fluctuations and no party should try to delay the change in price with the excuse of wanting to deplete old stock supply.
Minister of Domestic Trade and Consumer Affairs (KPDNHEP) Dato Sri Alexander Nanta Linggi gave this warning today as the price of bottled cooking oil in the market has recorded a drop of 13 per cent following the reduction of raw cooking oil prices to RM3,814 as of yesterday.
“The last time such low prices was recorded was in July 2021, while the highest rate reaching RM8,076 was recorded in March this year,” he said in a statement post on his social media following a visit to the wholesaler Chan Era (M) Sdn Bhd and Petronas Dagangan Bhd in Sibu today.
Nanta was informed by the wholesaler that the retail price of pure cooking oil packaged in 5kg bottles is already sold at RM39, compared to RM45 last month.
Based on discussions with the Ministry of Plantation Industries and Commodities (MPIC), he said efforts to change the purchase price of fresh fruit bunches (FFB) on a weekly basis, instead of monthly, are currently underway.
“KPDNHEP will continue to engage as well as to work with relevant parties, ministries and agencies to ensure consumer rights are protected and balance the interests of the industry,” he gave assurance.
In a separate statement, the Kapit MP was glad to note that there was no significant change in transportation costs that could affect the price of essential goods at the wholesale and retail levels in Sarawak, particularly in the rural areas.
“I was given an explanation of the process of supplies delivery (port-to-port) from Peninsula to Sarawak, especially in Sibu which is the gateway to the Central Divisions of Sarawak, especially the rural areas.
“This is also assisted by the Price Standardisation Programmes and Community Drumming under the supervision of the Ministry with an allocation of RM200 million per year,” he added.
However, Nanta warned that its Special Task Force on Jihad Against Inflation is closely monitoring the situation at every level of the supply chain to ensure there is no sudden and unreasonable increase in the profit margin and price of goods in the market.
“I have also reminded all traders not to take advantage of the inflationary situation that has hit globally.
“I have instructed the enforcement officers and price monitoring officers throughout the country to increase inspection and monitoring at all levels of the supply chain whether at the manufacturer, wholesaler or retailer,” he added.
KPDNHEP senior director (Subsidy and Controlled Items) Dato Stanley Tan was among those present. — DayakDaily
