Stop panic buying of cooking oil - Ekonsave Johor
Astro Awani
November 3, 2016 12:32 MYT
November 3, 2016 12:32 MYT
Under the restructured cooking oil price stabilisation scheme, the price of 1kg cooking oil packets remains at RM2.50 while those in bottles are sold according to the market price.
People should stop the ‘panic buying’ of cooking oil as it is causing some premises to run out of supplies for the item.
This is the advice by Ekonsave Johor Operations Manager, Mas Imran Adam who said the cooking oil stock will be back to normal in a day or two.
“I am appealing to the public not to buy cooking oil in excess.
“This morning we stocked up four boxes of cooking oil. Within an hour, the items were all snapped up by customers. That is after we restricted it to one bottle per customer.
“So now, there is panic buying among customers. But we still sell at the original price as the cooking oil is from the old stock,” he told Astro AWANI.
Meanwhile, he denied that there are some sellers who were hoarding on cooking oil and refused to sell it to customers.
He said every supermarket is bound by the law and a lot of them do not dare to act as such.
“Supermarkets are bound by the Price Control and Anti-Profiteering Act 2011. Under the Act, we cannot simply raise the price of goods such as cooking oil.
"If before this our profit is 30 sen, it is still the same now. If not, we could be penalised by the Domestic Trade, Cooperatives and Consumerism Ministry,” he said.
On Oct 26, Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainudin had announced the restructuring of the cooking oil price stabilisation scheme.
Under the restructuring of initiative, the price of 1kg cooking oil packets remains at RM2.50 while those in bottles are sold according to the market price.