CEO Morning Brief

New Ceiling Price for Chicken at RM9.40 Per Kg Starting July 1

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Publish date: Thu, 30 Jun 2022, 12:31 PM
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TheEdge CEO Morning Brief

KUALA LUMPUR (June 29): The new ceiling price for chicken has been set at RM9.40 per kg -- 50 sen higher than the previous level at RM8.90, and grade A chicken eggs at 45 sen per seed in Peninsular Malaysia from Friday (July 1), the government announced on Wednesday (June 29).

Agriculture and Food Industries Minister Datuk Seri Dr Ronald Kiandee said a Cabinet meeting also agreed to set the maximum price for Grade B eggs at 43 sen per seed and for Grade C eggs at 41 sen per seed.

"These decisions have also been taken into consideration and coordinated with the Bantuan Keluarga Malaysia (BKM) recently announced by Prime Minister Datuk Seri Ismail Sabri Yaakob through cash support initiatives, including additional RM500 for Group B40 and some of Group M40.

"A total of 8.6 million BKM beneficiaries have been approved whose households will receive up to RM2,600 this year. This assistance is the highest ever granted by any government," Ronald said in a statement.

With the introduction of this subsidy, the government has allocated RM369.5 million, bringing the total subsidy to RM1.1 billion since Feb 5.

According to Ronald, the increase in price of goods is not only a problem in Malaysia but also a global phenomenon due to supply chain disruption caused by geopolitical conflicts and climate change.

"However, the government is making every effort to put in place a price control mechanism to ensure that Malaysian families are not burdened by the cost of living challenge," he said.

Last Friday, Prime Minister Datuk Seri Ismail Sabri Yaakob said the government had decided not to float the prices of chicken. The previous ceiling price for chicken of RM8.90 per kg was implemented on Feb 5, and will be removed on June 30, according to news reports.

Source: TheEdge - 30 Jun 2022

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