Penang Fama denies coconut price increase

BUKIT MERTAJAM: The Penang Federal Agricultural Marketing Authority (Fama) has denied there is a current shortage in the supply of coconuts in the state, causing a price hike.
State central operations manager, Akbaruddin Nasurdin said Fama had increased coconut supply for Ramadan and Hari Raya Aidilfitri by 50% to meet the high demand during this period.
"Penang Fama imports 60,000 coconuts each month from various parts of Indonesia and we have increased this number by 50% during the Ramadan and Hari Raya period," he said.
Akbaruddin was speaking to Bernama here today, when commenting on a news report that even though Fama had given an assurance there would be no price hike for coconuts, this was already happening now.
According to the report, traders said they had to increase their prices by up to RM1 because of the increased price from wholesalers.
He said Penang Fama sold the coconuts at RM1.70 each to the wholesalers or retailers whom they believed increased the price. — Bernama