August 30, 2022

Malaysia's chicken ceiling price to remain at US$2.10 per kg

Alexander Nanta Linggi, Malaysia's Domestic Trade and Consumer Affairs Minister, said the government will maintain the current chicken ceiling price of MYR 9.40 (~US$2.10; MYR 1 = US$0.22) per kg, Malaysia Now reported.

He said the Cabinet unanimously decided this move, and in response to feedback from various sources, the government also decided against floating chicken prices.

After August 31, the MYR 9.40 (~US$2.10) ceiling price for chicken in the peninsula may not be maintained, according to ministry secretary-general Azman Mohd Yusof, as the supply of chickens appeared to be stabilising.

He explained that this was the case because the market price for round chicken had fallen below the ceiling price and that some vendors were now charging as little as MYR 6.99 (~US$1.56) per kg.

He said the majority of suppliers no longer had production problems, which led to an excess of supply that would have an impact on the current price.

Ronald Kiandee, the Minister of Agriculture and Food Industries, previously stated that the government would review the standard chicken price ceiling and the export authorisation after August 31.

-      Malaysia Now