Food protectionism spreads with Malaysia poultry export ban

Published May 24, 2022

Tridge summary

Malaysia's government has stopped exports of chicken from June 1 and is investigating allegations of cartel pricing, affecting countries like Singapore, Thailand, Brunei, Japan, and Hong Kong. The government is discussing subsidies with the country's largest poultry producers to ensure local supply and has promised strict action against any companies sabotaging supply. The decision is part of a series of measures by nations to address rising food costs, including Indonesia's palm oil export ban and India's wheat export restrictions. The move is expected to increase pressure on global food supply chains already strained by the Ukraine conflict and currency depreciation.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

KUALA LUMPUR (May 24): Malaysia’s government met with the country’s biggest poultry producers to discuss subsidies and ensure continuity of local supply as the nation moved to ban exports of chicken in the latest food protectionist move in the region. The agriculture and food industries minister met 12 producers and livestock groups including Leong Hup Poultry Farm Sdn Bhd, HLRB Broiler Farm Sdn Bhd, PWF Corporation Bhd and the Federation of Livestock Farmers’ Association of Malaysia on Monday (May 23), following a Cabinet meeting that discussed the ban. Malaysia will halt exports of 3.6 million chickens a month from June 1, and investigate allegations of cartel pricing, Prime Minister Datuk Seri Ismail Sabri Yaakob said on Monday. The move is likely to hit hard in Singapore, which sources a third of its supply from Malaysia, as well as in Thailand, Brunei, Japan and Hong Kong. The ban is the latest in a series of government measures aimed at easing domestic prices as nations ...

Source: Theedgemarkets