PUTRAJAYA – The cooking oil that is reported to have experienced a price hike of up to RM10 for a 5kg bottle is not regulated under the Price Control and Anti-Profiteering Act (Akhap) 2011 as it is categorised as blended cooking oil.
Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said the alleged price hike of cooking oil as reported involved the Knife and Red Eagle brands, which are not categorised under Akhap’s legal control.
“This is because it is under the blended cooking oil category and not pure cooking oil,” he tweeted today when commenting on allegations of the soaring prices of cooking oil.
According to reports, the price of 5kg of blended cooking oil of the Red Eagle and Knife brands is said to be RM45 now compared to between RM30 and RM35 during the Covid-19 pandemic period.
Nanta said that effective August 1, the maximum retail price of pure palm cooking oil sold in bottles is RM29.70 for 5kg; RM18.70 (3kg); RM12.70 (2kg); and RM6.70 (1kg).
Nanta, meanwhile, said that traders, however, should not arbitrarily raise the price of blended cooking oil in the market.
He said the Domestic Trade and Consumer Affairs Ministry had the jurisdiction to investigate according to Akhap, on the basis of profiteering.
He said a notice will be sent to the premises in accordance with Section 21 of Akhap and, if there is an element of profiteering, legal action can be taken under Section 14(1) of the same act.
Upon conviction, corporations or companies can be fined up to RM500,000 while non-corporations or individuals can be fined up to RM100,000 or jailed for a term not exceeding three years or both.
He said the consumer affairs enforcement officers are aware of the case and are taking further action. – Bernama, May 11, 2022
