Traders urged not to exploit cooking oil subsidy

The Domestic, Cooperative and Consumerism Ministry urged traders not to take advantage of a recent restructuring on the cooking oil subsidy scheme.

Starting November, cooking oil in bottles weighing above 1kg would be based on market prices while the price of cooking oil in 1kg packets will remain at RM2.50 per pack.

The ministry's enforcement director Roslan Mahayudin said he is aware that traders had been purchasing 1kg packets in wholesale from retailers.

"We are aware that plenty of traders are buying the 1kg packets. There is no need to comment. This involves policy.

"However, I urge traders not to take advantage from those who actually deserve the subsidy. Do not take away their rights.

"We are aware of traders who come to these kind of places with trolleys to stock up on the 1kg packets," he told reporters while conducting a check on cooking oil at Tesco Bukit Mahkota today.

He added that there is no reason for panic buying as there is sufficient cooking oil supply in the market.

"Based on our checks, we found that cooking oil supply at supermarkets and shops is at a sufficient level. So, there is no need for wholesale or panic buying," Roslan said.

In the meantime, KPDNKK is analysing a mechanism in setting the ceiling prices for the sale of cooking oil to household consumers.