GEORGE TOWN – The Domestic Trade and Cost of Living Ministry has assured consumers that prices of essential goods remain stable ahead of the upcoming festive season, despite concerns raised by the Penang Hindu Association (PHA) about significant price hikes.
In a statement today, the ministry said continuous price monitoring at public markets, supermarkets, and hypermarkets throughout Penang indicates that market conditions are under control.
Daily checks are conducted on tomatoes, garlic, cardamom, coconut milk, husked coconuts, black sesame seeds, and Bru coffee, among other items.
“Price levels remain stable, with fluctuations largely influenced by factors such as weather, import costs, and supply chain dynamics,” the statement said. It added that enforcement officers are actively inspecting traders to prevent profiteering, particularly during the festive period.
This response follows claims by PHA president P. Murugiah, who alleged that the prices of some essential goods had surged by up to 400% compared to October last year.
He cited tomatoes as an example, noting an increase from RM1.60 to RM8.00 per kilogram. Other reported spikes included garlic from China, which rose from RM5.00 to RM14.50 per kilogram, and Indian cardamom, which jumped from RM92.10 to RM220 per kilogram.
Murugiah said the association had received numerous complaints from members, prompting a random price survey at various retail outlets. He attributed the increases to rising commodity costs, import duties, and retailer mark-ups exceeding reasonable profit margins.
“The price of husked coconuts, vital for Thaipusam celebrations next month, has also climbed from RM1.60 to RM2.60 per fruit,” he said, expressing concerns about possible hoarding.
The ministry, however, refuted suggestions of widespread price manipulation. It noted that weather conditions had impacted the wholesale price of tomatoes from Cameron Highlands, with January’s average retail price reaching RM6.41 per kilogram.
Similarly, the average retail price for imported garlic was RM13.06 per kilogram this month, well below the figure cited by PHA.
Coconut prices, the ministry added, are driven by increased demand from Thailand, affecting supplies from Indonesia. The average cost per coconut rose from RM2.73 in October to RM3.31 in January.
The ministry pledged stringent action under the Price Control and Anti-Profiteering Act 2011, among other regulations, against businesses exploiting consumers.
“Our Enforcement Command Centre is on high alert to receive complaints and ensure sufficient supplies,” it said, adding that industry engagement will be intensified to maintain market stability.
The ministry reassured the public that enforcement readiness remains robust to address any emerging issues during the festive season. – January 13, 2025
