Jihad Task Force Bans Polybag Cooking Oil Exports

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Anti-inflation task force chairman Annuar Musa said polybag cooking oil exports must be stopped immediately. (Bernama pic)PETALING JAYA: Exports of cooking oil in polybags are to be stopped immediately, the anti-inflation “jihad” task force said today.
The maximum price of bottled cooking oil is to be fixed after negotiations with manufacturers failed, task force chairman Annuar Musa said.
He said the export ban was aimed at avoiding confusion with subsidised cooking oil which is also sold in polybags, Bernama reported.
“When there are exporters who export cooking oil in a similar form, it creates problems for the enforcement officers. Therefore, any export of cooking oil in the form of polybags will no longer be allowed…must be exported in another form,” he said after chairing a task force meeting today.
He said the government will gazette the maximum retail price for palm cooking oil in bottles. Discussions with manufacturers to lower the price of cooking oil had proven ineffective despite the decline in crude palm oil prices.
“As the price of cooking oil was not lowered, the existing law enables us to gazette certain essential items with their maximum retail prices.
Annuar said the maximum price is expected to be fixed within a week.
The price will be set by the domestic trade and consumer affairs ministry based on adjustments to maintain a certain profit margin and ensure that excessive profit-taking will not occur.
Annuar had urged manufacturers to lower the price last week, as the price of crude palm oil had dropped from RM7,000 per tonne to RM3,600 per tonne this week.
“When the crude palm oil prices went up, the traders raised their prices too, but when the crude palm oil prices went down, they started dilly-dallying about lowering their prices, saying that they were selling old stocks, but I think this is unfair,” he said.
Annuar said the government could not allow the industry to continue operating in an unregulated environment, especially after being given two weeks to lower their prices.
“Price increases of essential items is not a trivial matter. Cooking oil is as important as chicken, eggs and rice. That’s why price increase should not be done to achieve a high profit margin,” he added. - FMT

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