PETALING JAYA (THE STAR/ASIA NEWS NETWORK) - Malaysian Prime Minister Ismail Sabri Yaakob said on Friday (June 24) that the prices for chicken will not be floated and a new ceiling price will be announced soon.
Malaysia had previously said it would allow prices to be determined by the market from July 1 to address supply shortages, after chicken producers had claimed soaring feed prices meant they could no longer supply poultry at the existing price cap of RM8.90 per kilo. The resulting supply crunch caused prices to soar and the government to impose an export ban on chicken from June 1.
Prime Minister Ismail Sabri Yaakob, in a statement issued on Friday said the decision to keep the price cap was made so that people would not be burdened by rising costs of living.
He added that the new ceiling price for chicken would be announced by Agriculture and Food Industries Minister Ronald Kiandee.
Datuk Seri Ismail said the current water and electricity tariff rate for domestic users in Peninsular Malaysia will also be maintained.
He said the government will cover subsidies worth RM5.8 billion (S$1.8 billion) despite facing a sharp increase in fuel and other costs.
"This means that a rebate of 2 sen/kWh is maintained for all domestic consumers and no surcharge applies.
"There is no electricity tariff increase to domestic consumers in the Peninsula," he said in a statement.
The imposition of a surcharge of 3.70 sen/kWh is maintained on commercial and industrial consumers.
https://www.straitstimes.com/asia/se-asia/chicken-prices-will-not-be-floated-malaysian-pm
