KUALA LUMPUR: Malaysia's palm oil industry players should reduce the price of cooking oil in tandem with the drop in the price of crude palm oil.
Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said that in principle, the price of cooking oil would change in accordance with the crude palm oil price as the world market price went up or down.
"So, we hope that the industry players will also set a suitable price at the retail level,” he said at a press conference on Thursday (July 21).
Earlier, he had attended a parade in conjunction with the 50th Anniversary celebration of the ministry’s Enforcement Division and end of a two-week Basic Enforcement Science Course 2022 held for 67 staff members at the Malaysia Prisons College here
On Wednesday (July 20) Nanta reportedly said that the crude palm oil price dropped from RM7,000 to RM3,600 per tonne this week and the price of bottled cooking oil in the country to drop soon too.
On another development, he said his ministry was prepared to cooperate with the Health Ministry to address the problem of shortage of medicines.
"We need to discuss how to control or what should be controlled and not just the price while the MOH’s views on the issues should be studied,” he said.
He added that his ministry too had received complaints on the shortage of medicines although not in large amounts.
Earlier, in his speech, Nanta said his ministry had so far opened 6,457 investigation papers this year until last month with the highest number of offences being charging unreasonable prices, RM25.94 million worth of goods seized and compounds amounting to RM3.33million issued.
Nanta also announced that the post of enforcement director in the ministry would be changed to enforcement director-general and deputy director to deputy director-general. - Bernama
