Malaysian consumers fry over cooking oil shortage

PETALING JAYA — Malaysian consumers are buying cooking oil in an unprecedented manner, forcing retailers to impose limitations on the number which can be sold daily.

This buying frenzy has left many bewildered, and the situation is further heightened with rumours of an impending price hike.

Checks by the Malay Mail at retail outlets showed the essential item was much sought after not only in the Klang Valley but in neighbouring states as well.

“It has reached a stage where most businesses are putting up notices informing customers of a daily quota,” said Mr Matthew Jude, a restaurateur.

“Deepavali is around the corner and this should not be happening.”

He said he turned up at a hypermarket to buy cooking oil but was met with empty shelves.

Last Wednesday, Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainuddin said the licence of wholesalers and suppliers would be withdrawn if they were found to be hoarding cooking oil for quick gain.

He also refuted claims that subsidies would be lifted, and warned wholesalers and suppliers against hoarding.

Second Finance Minister Datuk Johari Abdul Ghani said consumers would continue to benefit from cooking oil subsidy from the government.

“The people will continue to be be subsidised,” he said when commenting on a report citing Malayan Edible Oil Manufacturers Association that the price of cooking oil would rise as part of a restructuring — Cooking Oil Price Stabilisation Scheme — next month.

Operators find themselves disadvantaged as they are at the mercy of suppliers who advised them to stock up in light of a cooking oil shortage after Deepavali. THE MALAY MAIL ONLINE