June 11, 2022

Malaysia to stock up chicken to secure domestic supplies and control food prices

Malaysia announced that it will seek to stockpile chicken as part of measures to secure domestic supplies and control rising food prices, following a ban imposed on poultry exports, Today Online reported.

The Southeast Asian country, which primarily supplies live chickens to Singapore and Thailand, halted chicken exports on June 1 until production and prices stabilised.

Chicken prices in Malaysia, one of the country's cheapest sources of protein, have risen sharply in recent months due to a global feed shortage aggravated by Russia's invasion into Ukraine.

Ronald Kiandee, Malaysia's Agriculture and Food Industries Minister, said in a statement that the government has agreed to "establish a method of implementing chicken stockpiles" that will take effect immediately.

He didn't say how the government planned to manage the domestic chicken supply.

He also stated that the government will simplify import procedures for soy, wheat, corn, as well as animal and plant-based livestock feed, and that a "priority lane" will be established to expedite imports until chicken supply stabilises.

Malaysia imports grains and soybeans, which are commonly used in chicken feed.

Ronald also stated that the government will take steps to assist food manufacturers and feedmill operators in lowering production costs, including reviewing electricity tariffs and providing a special exemption to poultry farmers in order to recruit migrant workers amid a labour shortage.

He said Malaysia's chicken supply, which fell in February, is expected to level off in June, he said.

-      Today Online