Severe action against traders raising price of coconuts - Hamzah

Traders raising the price of coconut indiscriminately are set to face severe action under the Price Control Act and Anti-Profiteering Act 2011.

Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainudin said traders cannot raise prices according to their own whims and fancy.

Traders must avoid any price increase that will affect consumers.

"My advice to traders, especially those dealing with coconuts to follow the guidelines set by the ministry and ethics," said Hamzah who is also the Member of Parliament for Larut after attending the Persatuan Anak-Anak Sungai Bayor Selama, Perak Annual General Meeting and opening of the Madrasah Al-Yamani, Sungai Bayor branch in Selama, near here today.

He was asked to comment on the increase in price of coconuts last week and currently sold at RM2.20 per piece while the price of coconut milk has hit RM9 a kilogramme. -- BERNAMA