Malaysian chicken prices remain unchanged despite stronger ringgit

Published Oct 8, 2024

Tridge summary

The depreciation of the Malaysian ringgit has resulted in a decrease in the price of imported feed, leading to a reduction in production costs for broilers by 6-7%. However, despite this, the price of local chicken has not significantly dropped due to increased costs such as water, electricity, wages, and transportation. The president of the Malaysian Livestock and Poultry Federation, Chen Zhixi, mentioned that the price of chicken in the market has not fallen due to factors like market supply and demand. The ringgit exchange rate against the US dollar and Singapore dollar reached their highest levels in 41 months and two years, respectively, but has since started to decline.

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Original content

(Comprehensive News from Kuala Lumpur) The recent appreciation of the Malaysian ringgit has caused the price of imported feed to fall, but due to the continued increase in other costs such as water and electricity bills and wages, the price of local chicken has not fallen significantly. According to the "Sin Chew Daily", the president of the Malaysian Livestock and Poultry Federation, Chen Zhixi, told the media that feed accounts for about 70% of the breeding cost. The strengthening of the ringgit exchange rate has caused the import price of feed raw materials such as corn and soybeans to fall, and the production cost of broilers has dropped by 6% to 7%. The production cost of farm broilers in the second quarter of this year has dropped from RM6.35 per kilogram (about S$1.90) to RM6.30 per kilogram. However, the average selling price of live chickens on the farm remains at about RM9 per kilogram, and the average retail price of processed broilers is RM1.90 per kilogram. About ...

Source: Zaobao