July 18, 2011

Malaysia to monitor chicken prices
 
 
A secretariat has been established to observe chicken prices as well as ensure there is sufficient supply ahead of the approaching festivities.

Deputy Prime Minister Tan Sri Muhyiddin Yassin said the secretariat would focus on chicken meat as it was the cheapest and most widely consumed source of protein by Malaysians.

"All aspects that go into the production of chicken will be monitored to see how best to ensure adequate supply and pricing," he said.

He noted that chicken prices had risen from MYR7/kg (US$2.31) last year to about MYR7.80 (US$2.58) now.

He attributed the rise in chicken prices to local and external factors ranging from the increase in prices of day-old chicks to global prices of corn and fuel.

To counter this, he said the secretariat would look at the viability of sourcing chicken feed, such as corn, from India where a Malaysian-born entrepreneur is involved in large scale corn cultivation.

He said the secretariat was a joint effort between the Ministry of Domestic Trade, Cooperatives and Consumerism and the Ministry of Agriculture and Agro-Based Industries.

The move, he added, was part of the special committee set up by the government to monitor some 355 food items each month as a means of keeping tabs on inflation which stood at about 3.3%.