Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi speaks to the media in Putrajaya, June 21, 2022. – Bernama pic
Tuesday, June 21, 2022 7:18 PM MYT
PUTRAJAYA, June 21 – Price cap controls for chicken, chicken eggs and subsidies for palm cooking oil in two, three and five kilogram (kg) bottles will not be maintained from July 1 , Minister of Domestic Trade and Consumer Affairs (KPDNHEP) Datuk Seri Alexander Nanta Linggi said today.
Speaking at a press conference after chairing an engagement session with poultry industry stakeholders here, Nanta said the move was implemented to ensure the food supply in the market was more stable and that prices were stabilized in the long term.
“Chicken prices will be floating and will depend on market forces. The needy group will be assisted later with targeted financial aid,” he said, adding that the details of the financial aid would be announced by the Ministry of Finance.
Currently, the government sets the maximum retail price of chicken and eggs for Peninsular Malaysia at RM8.90 per kg for standard chicken and RM9.90 per kg for super whole chicken (slaughtered and cleaned without legs, head, liver and gizzard).
Earlier, Prime Minister Datuk Seri Ismail Sabri Yaakob said that from July 1, Putrajaya would stop giving subsidies to poultry farmers. Following this, farmers would have hoped that the government would float the price of chicken.
Nanta informed that the subsidy for cooking oil in 1kg polybag packages which is offered to consumers at RM2.50 per pack will continue.
Regarding the abolition of palm oil subsidy for cooking in bottled packaging, he said the subsidy for goods has reached RM20 million per month.
“It was a temporary program and should have been implemented for three months, but it lasted until today.
“The government feels it is time to abolish it and focus more on helping the needy,” he said.
The government had previously set a maximum retail price for bottled cooking palm oil from August 1 last year, with assurances that consumers could buy cooking oil for less than 30 RM for a five kg bottle.
According to the KPDNHEP, the maximum retail price for edible palm oil packaged in five kg bottles was RM29.70 per bottle, one kg bottle (RM6.70), two kg (12.70 RM) and three kg (18.70 RM).
During today’s engagement session, Nanta said poultry industry players have assured that chicken prices will not rise drastically.
“Interestingly, the industry is committed to helping the government ensure that consumers can afford basic necessities, especially chicken, at reasonable and stable prices,” he said. he declares.
He, however, pointed out that the KPDNHEP will take action in accordance with the rules against those who take the opportunity to excessively increase the price of goods.
“The ministry will not hesitate to take action against industry players if they violate existing anti-profit regulations,” he said.
Asked about the flour subsidy, he said the subsidy would continue for the time being. — Bernama