Chicken, egg prices to be floated after June this year, says Agriculture Minister

Chicken eggs (file pic).

KUCHING, Feb 22: Chicken and egg prices are expected to be floated after June this year as part of the Federal government’s efforts to alleviate food shortages.

According to a TVS news report, Agriculture and Food Security (MAFS) Minister Datuk Seri Mohamad Sabu stated that the prices would be floated so that the Ministry of Domestic Trade and Cost of Living (KPDN) could monitor and evaluate the fluctuations in the prices of the goods compared to the current ceiling price.

During an interview in his office, Mat Sabu stated that MAFS will meet the demand for chicken and eggs through price floating, which is sufficient even now, but will be more so in five or six months if no new unfavourable circumstances arise.

In January 2023, he reportedly stated that MAFS was examining the need to float the market price of eggs and provide targeted subsidies to the B40 group, and that discussions were ongoing with the Ministry of Finance, the Ministry of Economy, and KPDN.

The current retail ceiling price for standard chicken in Peninsular Malaysia is RM9.40 per kg, and for eggs, it is 45 sen for Grade A, 43 sen for Grade B, and 41 sen for Grade C, while for Langkawi, Sabah, Sarawak, and Labuan, the maximum prices of the items vary based on zones and districts.

Meanwhile, Mat Sabu highlighted that the Federal government is encouraging grain corn cultivation in Malaysia this year to address the issue of rising food prices, which is almost entirely imported from Argentina and Brazil, affecting the price of chicken and eggs.

In a few more months, the grain corn crops will begin yielding, and there are already companies interested in implementing the purchase of grain corn similar to Padiberas Nasional Berhad’s (Bernas) agricultural model, he added.

Mat Sabu also mentioned that grain corn cultivation research is actively being conducted in Perlis. — DayakDaily