KUCHING: The Domestic Trade and Consumer Affairs Ministry will stop enforcing the ceiling price control on chicken, chicken eggs and pure cooking oil beginning July 1.
“The ceiling price has resulted in market and price distortion,” it said in a statement today.
“With the abolition, it will ensure that the supply of materials for food on the market is more stable, allowing prices to stabilise in the long run.”
An engagement session with industry players elicited positive feedback and suggestions from the attendees, including a proposal to raise consumer awareness and change their lifestyles in response to price increases, the Ministry said.
“Also the critical issue of increased shortage of workers in the distribution trade sector that led to an increase in operation cost.
“And the industry’s commitment to work together with the government to ensure that consumers have access to affordable and stable chicken prices and supplies.”
It said the session was also held to inform industry players and consumer organisations about the current inflation situation in Malaysia.
“Malaysia is a country that operates on an open market and is heavily reliant on imports and the imports of materials and food has amounted to RM63.6 billion.
“In April 2022, food inflation increased by 4.1 per cent, while restaurant and hotel inflation increased by 3.2 per cent, transportation increased by three per cent, and housing, water, electricity, gas, and other fuels increased by three per cent,” it stated.
Unpredictable weather, rising fertiliser prices, logistics costs, and a lack of energy resources are all factors driving up food prices, according to the Ministry.
“The government is deeply concerned about the current situation, and it has always been committed to addressing price and supply issues, and it will continue to make efforts to alleviate the people’s burden.”
It also stated that it will not hesitate to enforce existing laws to ensure that supply and price issues are always under control.