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CAMA wants Govt to probe on cooking oil price hike

LILONGWE-(MaraviPost)-Consumer Association of Malawi (CAMA) called upon the ministry of trade to investigate the cooking oil price increase.

CAMA Executive Director John Kapito told The Maravi Post in an interview on Tuesday, July 8, 2024 that the trade ministry needs to investigate and inform consumers on cooking price increase despite many strategies government had announced last year.

Kapito said government announced the opening up to many traders specifically supporting local traders to go into production of cooking oil.

“We believe that opening up of local traders last year would control unnecessary and unexplainable price increases on cooking oil,” said Kapito.

He adds that Increases of cooking oil are coming at a time when consumers are increasingly facing economic challenges and the consumer body is monitoring the market to understand the reasons behind these unfortunate increases both traders and government .

He further said government must understand that consumers are now tired with these never ending unexplained price increases which do not correspond with their incomes.

In his remarks competition and Fair Trade Commission ( CFTC)Public Relations Officer , Innocent Helema said they have observed that cooking oil scarcity on the market have taken sellers advantage to raise prices somehow.

Helema said CFTC will conduct price monitoring exercise from next week across the country to ascertain such allegations of price increases for basic goods and services including cooking oil.

“We will take to task anyone found to be violating the Competition and Fair Trading Act (CFTA)as excessive pricing is one such violation provided for in the CFTA 2024 which can attract such penalties.”said Helema.

He however said Traders must be aware that the Competition and Fair Trading Act (CFTA) of 2024, which entered into force on 1st July, 2024, provides for stiffer penalties which can be up to 10 percent of annual turnover .

Meanwhile several shops have hiked 2 litre bottle of cooking oil from MK7500 to MK10, 000.

Dorica Mtenje
Dorica Mtenje
Malosa secondary school Diploma in journalism from Blantyre Business college Been media fraternity since 2009


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