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Date
 03/05/2007
News Provider
 Mahamad Rodzi Abdul Ghani
News Source
 Bernama
Headline
 Producers Warned Not To Raise Cooking Oil Prices

2/5/07 MIRI, (Bernama) -- Plantation Industries and Commodities Minister Datuk Peter Chin has warned cooking oil producers not to raise prices merely because palm oil is fetching higher prices now.

He said that there was no reason for the manufacturers to exploit the better prices of palm oil as cooking oil was listed as a controlled item.

"Right now, the difference between market and controlled prices is subsidised by the government so that the manufacturers would not be losing and can continue to supply," he told reporters after launching the Miri Fest Street Basketball here.

There were concerns that prices of oil palm-based products could go higher due to the improving prices of the commodity.

Chin said members of the public should report any retail outlets claiming to have run out of cooking oil or selling the item above the controlled price of RM2.10 per kilogramme to the Domestic Trade and Consumers Affairs Ministry.

-- BERNAMA

ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
Malaysian Palm Oil Board ( MPOB ) Lot 6, SS6, Jalan Perbandaran, 47301 Kelana Jaya, Selangor Darul Ehsan, MALAYSIA.
Tel : 603 - 7802 2800 || Fax : 603 - 7803 3533