Malaysia Warns Citizens Not to Panic Buy

"The government has agreed that subsidies and price controls for chicken only will be completely stopped starting November 1," said Malaysian Minister of Agriculture and Food Security Datuk Seri Mohamad quoted from the Straits Times, Tuesday (31/10/2023)- "The reason for stopping large chicken subsidies is to reduce subsidy leakage which is currently also enjoyed by foreigners and high-income groups," he continued. The current highest price for standard processed chicken is RM 9.40 (S$ 2.70) per kg. He said his party would monitor prices to ensure chickens were sold at a fair price and cooperate with the Ministry of Domestic Trade and Cost of Living. He said intervention steps were taken if there was a spike in chicken prices after the price ceiling was lifted. "Therefore, the ministry is expanding Rahmah Sales and Madani Agro Sales throughout the country to supply chickens at affordable prices," he said. He referred to two government programs launched to alleviate the impact of the high cost of living on people. Rahmah's sales offer dozens of food ingredients, such as eggs and cooking oil, at prices lower than market prices. Meanwhile, Madani Agro Sales allows farmers and fishermen to sell their products directly to consumers to help regulate prices while increasing producer income. "We have met with industry players through a meeting session on October 22, and they gave a commitment that chicken prices will not increase significantly," he said. He also advised the public not to panic because increasing demand could result in price increases. "We will stand by, if necessary, immediately import chicken," he said.  

Malaysian24