November 26, 2021

 

Chicken prices surge on higher demand in Phase Four of National Recovery Plan, Malaysian state assembly told

 


The reopening of several economic sectors under Malaysia's Phase Four of the National Recovery Plan (PPN) has caused a demand spike for essential items like chicken and cooking oil and led to price increases, the Johor State Assembly was told on Tuesday, The Edge Markets reported.


State Unity, Trade and Consumer Affairs Committee chairman Dr. Chong Fat Full said increases in the cost of raw materials such as soybean and corn and foreign exchange rates led to higher chicken prices.


Dr. Chong said that chicken breeders did not expect the reopening of the economic sectors, and that situation caused demand and prices to increase. "When there is a surge in demand for chicken, breeders need time to supply chicken and the market will take time to stabilise," he said.


He was responding to questions raised by members of the state assembly.


They wanted to know the action the government was taking to control price increases of essential items including chicken after the state moved into Phase Four of PPN.


Recent reports showed that chicken was sold for RM9.80 to RM10.30 (~US$2.31-2.43; RM1 = US$0.24) a kilogram in the state of Johor.