KUALA LUMPUR (June 17): The government has decided to reduce the retail prices of Grade A, B, and C eggs by three sen each across the country, in line with efforts to pass on the savings from targeted subsidies to the people.

Prime Minister Datuk Seri Anwar Ibrahim said that the new retail prices are 42 sen for Grade A eggs, 40 sen for Grade B, and 38 sen for Grade C, effective from Monday.

"[Total] subsidy coverage for the people's food needs of 10 sen per egg involves an expenditure of RM100 million, while the allocation for chicken egg subsidies in 2023 amounted to RM927 million," Anwar said in a statement on the same day.

The prime minister said that the retail prices of eggs in Sabah, Sarawak and Labuan will also be streamlined, according to the gazetted areas and zones.

He said this measure aligns with current developments showing a drop in input costs of egg production, particularly the basic ingredients for chicken feed.

"I want to emphasise that the government will continue to more proactively and effectively address issues related to the cost of living, while striving to mitigate any negative impact on the people's daily lives," he said.

Regarding diesel smuggling, Anwar said that the Ministry of Domestic Trade and Cost of Living launched Ops Tiris on March 1 last year to combat the misappropriation of subsidised diesel benefiting parties not eligible for the subsidies.

As of Dec 31, 2023, a total of 6.44 million litres of diesel, estimated to be worth RM14.12 million, had been seized.

https://www.theedgemarkets.com/node/715659