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Sat, Jan 05, 2008
NST
Panic buying cause of shortage

KUANTAN, Malaysia: Panic buying, triggered by the recent floods, have resulted in a shortage of cooking oil at retail outlets in Pahang over the past two weeks.

However, the problem is expected to be solved within the next few days following a pledge by wholesalers to increase the supply of cooking oil.

Officials of the Domestic Trade and Consumers Affairs Ministry have identified several areas in the state which are to be given priority by wholesalers.

The ministry's state enforcement chief Wan Suhaimi Wan Ibrahim said all districts in the state had been hit by the shortage.

"We are however confident of solving the problem soon. In Kuantan alone, we managed to get at least 10 cooking oil wholesalers to increase supplies."

Wan Suhaimi said retail outlets were reporting brisk sales of cooking oil as many people were apparently stocking up on the item whenever it was made available at the shops.

He did not rule out the possibility that worry over another wave of floods hitting the state as the reason for the brisk sales in cooking oil.

Cooking oil remained in short supply here even though over 180 tonnes of cooking oil had been supplied to retailers two days ago.

"The consumers should not have resorted to panic buying as the government had given the assurance that there would be ample supply of cooking oil at all times.

"They should instead buy according to their daily needs as excessive buying would only cause problems to the general public."

He said the shortage was affecting mostly the smaller retail shops, not larger establishments such as hypermarkets, which dealt directly with suppliers.


 
 
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