In Face Of Panic Buying, Malaysia Rations Purchase Of Cooking Oil - Epoch Times

[hatrack]

KUALA LUMPUR—Malaysia has limited the amount of cooking oil consumers can purchase to overcome a shortage caused by panic buying, local media reported on Sunday, a move that could add to inflationary pressures.

Beginning Monday, consumers can purchase up to 5 kg (11 lbs) of cooking oil, which is sold by weight, newspapers reported. The authorities have blamed the shortage on hoarding and panic buying caused by rumours of an impending price hike.

The government has said there is sufficient cooking oil in the country, adding it would beef up security at the border with Thailand and Singapore to prevent smuggling into neighbouring countries. "We want to show we are serious in combating the problem which has been in existence for decades," Che Jamil Ahmad, customs director of northern Kelantan state bordering Thailand, was quoted as saying by New Straits Times.

"Our checks will not only stop cooking oil but also other essential items from being sent to our neighbouring country." The shortage comes at a time of growing price pressures, with food and transport prices on the rise and a likely increase in fuel prices in coming months.

EDIT

http://en.epochtimes.com/news/8-1-6/63697.html

[patch1234]

1. simple solution ... charge world price .n/t

[NNadir]

2. And yet they'll be exporting palm oil to Germany...

Of course, Germany, which couldn't care less about climate change and has announced its intention to abandon the world's largest, by far, source of climate change gas free energy, does have a renewable portfolio standard, and they don't care how much petroleum they burn to get the palm oil from Asia to meet it.

In the meantime, there are conservationists around the world calling on Germany to abandon it's renewable portfolio standards:

http://www.tni-archives.org/docs/200702051208208697.pdf