Malaysia rations cooking oil after panic-buying: Reports
Malaysia has slapped restrictions on cooking oil purchases after panic-buying triggered by rumours of price hikes caused severe shortages, reports said on Saturday.
By Agencies |
KUALA LUMPUR: Malaysia has slapped restrictions on cooking oil purchases after panic-buying triggered by rumours of price hikes caused severe shortages, reports said on Saturday.
From next week, customers will only be permitted to buy a maximum of 5kg of cooking oil at any one time, Domestic Trade and Consumer Affairs Minister Datuk Shafie Apdal said, according to the state Bernama news agency.
To address the crisis, cooking oil production capacity was also being boosted by 10 per cent, he said.
"This is not the first time we are conducting a rationing exercise for controlled items. We did the same when there was a similar crisis involving sugar," he said late on Friday.
"Cooking oil smuggling is a major cause of this crisis, and as such, I ask the Customs Department and the Anti-Smuggling Unit to help us in overcoming it," he added.
Supermarket shelves were stripped of cooking oil in several states, with retailers not able to replenish supplies fast enough.
From next week, customers will only be permitted to buy a maximum of 5kg of cooking oil at any one time, Domestic Trade and Consumer Affairs Minister Datuk Shafie Apdal said, according to the state Bernama news agency.
To address the crisis, cooking oil production capacity was also being boosted by 10 per cent, he said.
"This is not the first time we are conducting a rationing exercise for controlled items. We did the same when there was a similar crisis involving sugar," he said late on Friday.
"Cooking oil smuggling is a major cause of this crisis, and as such, I ask the Customs Department and the Anti-Smuggling Unit to help us in overcoming it," he added.
Supermarket shelves were stripped of cooking oil in several states, with retailers not able to replenish supplies fast enough.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
