Blended cooking oil not regulated under price control laws

 

There have been complaints about the soaring prices of cooking oil.

PUTRAJAYA: 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 Alexander Nanta Linggi said the alleged price hike involved the Knife and Red Eagle brands, which were 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 complaints about the soaring prices of cooking oil.

According to reports, the price of a 5kg bottle 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 Aug 1 last year, the maximum retail price of pure palm cooking oil sold in bottles was RM29.70 for 5kg; RM18.70 (3kg); RM12.70 (2kg); and RM6.70 (1kg).

He also said traders should not arbitrarily raise the price of blended cooking oil in the market as they could be charged for profiteering.

He said a notice would be sent to traders and, if there was an element of profiteering, legal action could be taken against them.

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 ministry enforcement officers were aware of the case and were taking further action. - FMT