January 4, 2011

Malaysia to list pork as controlled-price item in Chinese New Year

Malaysia will list pork as a controlled-price item during Chinese New Year, amid the escalating pork prices that may affect the Chinese community in the country.

Malaysian Deputy Domestic Trade, Co-operative and Consumerism Minister Tan Lian Hoe made the announcement here in the city adjoining Kuala Lumpur, capital of Malaysia, on Monday (Jan 3).

This is the second time the Malaysian government has listed pork as a controlled-price item. The first time the Malaysian government set the ceiling prices for pork was in February 2010, when the Chinese community in Malaysia was about to ushering in the Year of the Tiger.

Chinese are celebrating the Chinese New Year on February 3 in 2011. Tan said the details of the pork prices would be announced two weeks before the New Year.

Different parts of pork are sold at different prices in Malaysia. Prices of the most popular parts, including ribs, lean meat and thighs, will be increased by as much as 20% from Tuesday (Jan 4), according to the Malaysian Federation of Lifestock Farmers' Associations (MFLFA).

Each 100 kilogrammes of the most saleable parts of pork will see an increase of MYR200-300 (US$64.5-$96.8), said the federation.

Consumers, particularly the Chinese community in Malaysia, are worried about the rise in pork prices as this will raise their financial burden.

Tan urged the business community in Malaysia not to simply increase goods prices during Chinese New Year, or risk actions being taken against them by the authority.

She also said that her ministry would hold dialogues with the MFLFA and the Malaysian Federation of Sundry Goods Merchants to discuss issues pertaining to rising business costs.