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Full cooperation: Gardenia ready to explain price hikes to domestic trade ministry | Scoop
Gardenia has said in a statement that it would provide all the information requested by the ministry. – Scoop pic, October 2, 2023
News

Full cooperation: Gardenia ready to explain price hikes to domestic trade ministry

This after company announced 10-40 sen price increases for 30 of its products

Updated
7:22 PM MYT

 

KUALA LUMPUR – Gardenia Bakeries (KL) Sdn Bhd is ready to provide an explanation to the Domestic Trade and Cost of Living Ministry on the price increase for 30 types of its bread range that was implemented starting yesterday.

The company said in a statement that it will provide all the information requested by the ministry.

“We will give our full cooperation and provide all the particulars needed by the ministry on the price revision of our products.”

Previously, Deputy Domestic Trade and Cost of Living Minister Fuziah Salleh said the company was required to respond because an unreasonable price increase could burden consumers.

“Gardenia must respond to the notice within six days because we want to know all the associated costs, including the price of the flour used, transportation costs, and wholesale and retail prices. The entire supply chain needs to be explained.”

She said after receiving Gardenia KL’s explanation, the ministry would conduct a thorough tally to determine if the increase in the price of food items was reasonable or justifiable.

Fuziah said the ministry cannot prevent a company from raising its prices, but it can be controlled through the Price Control and Anti-Profiteering Act.

Previously, Gardenia KL, through a statement, confirmed that 30 of its products would see a price increase of between 10 and 40 sen after reviewing the prices of selected items.

However, the bread manufacturer said the price of white bread, whole wheat (wholemeal) bread, and Toast’em bread would remain unchanged to ensure that the increase does not burden the majority of customers. – October 2, 2023

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