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AMPANG – Traders have been warned against profiteering or withholding stock due to the expected increase in prices of chicken come July 1.
Deputy Domestic Trade and Consumer Affairs Minister Datuk Rosol Wahid said enforcement action will increase, with resources from other agencies to root out errant traders.
“Traders cannot use the price increase as an excuse to have to hike prices excessively. Otherwise, we will take action. If there is a report, we will investigate with enforcement officers.”
He also denied allegations that the government dictates the number of 1kg bags of palm cooking oil sold in supermarkets, saying this is an initiative by the retailers.
He added that the number of packets is based on targets or marketing strategies done in part to curb irresponsible parties from buying in high quantities or smuggling.
“Every month the government subsidises 60,000 metric tonnes of palm cooking oil, which is equivalent to 60 million packets – two packets per Malaysian.
“So, in terms of quantity, it is sufficient and we would not limit how many packets a retailer should sell. However, the retailers impose a limit to avoid traders overbuying to resell or avoid misuse,” he said at a Lotus Malaysia event here today.
Yesterday, Prime Minister Datuk Seri Ismail Sabri Yaakob said the government had decided to abolish its temporary subsidy for bottled cooking oil as it failed to meet its original objective.
“However, as the government extended this subsequently every three months, it was being misused and smuggled by various parties including industries, among others, prompting its cancellation,” he said.
At present, the subsidised packeted cooking oil price stands at RM2.50 per kg, while its unsubsidised price stands at RM9 per kg.
On Tuesday, the government announced that it would end all subsidies on bottled cooking palm oil products effective July 1, except those sold in 1kg packets.
According to the Domestic Trade and Consumer Affairs Ministry, the maximum retail price for palm cooking oil in 5kg bottles is RM29.70 per bottle, 1kg bottle (RM6.70), 2kg (RM12.70), and 3kg (RM18.70).
Meanwhile, the government will no longer impose a ceiling price control on poultry and chicken eggs July 1 onwards. – The Vibes, June 23, 2022
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