Prices of chicken and eggs to be floated after June in Malaysia

Published 2023년 2월 21일

Tridge summary

The Malaysian government plans to float the prices of chicken and eggs after June in an effort to address food shortages. The Ministry of Domestic Trade and Cost of Living will monitor and assess the prices, with the current retail ceiling price for chicken at RM9.40 per kg and for eggs ranging from 45 sen to 41 sen depending on the grade. The government is also promoting the cultivation of grain corn, which is currently largely imported, to reduce costs. The Ministry of Agriculture and Food Security is hopeful of meeting the demand for these products, as long as no unexpected events occur. The minister hopes that the upcoming Budget 2023 will maintain or increase allocation to his ministry.

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Original content

KUALA LUMPUR (Feb 21): The prices of chicken and eggs are expected to be floated after June, as part of the government's efforts to overcome food shortages, said Agriculture and Food Security Minister Datuk Seri Mohamad Sabu. Mohamad, who is also known as Mat Sabu, said the prices would be floated, so that the Ministry of Domestic Trade and Cost of Living could monitor and assess fluctuations in prices of the goods compared to the current ceiling prices. "We are confident that the Ministry of Agriculture and Food Security will satisfy demand for chicken and eggs (through price floating), and even [though] now it is sufficient, but in five or six months' time, it will be more sufficient if no new undesirable matters (such as disasters) arise,” he said when interviewed at his office here. In January, Mohamad reportedly said that his ministry was studying the need to float the price of eggs in the market and provide targeted subsidies to the bottom 40% household income group, and ...

Source: Theedgemarkets