Following the termination of the chicken price ceiling and the value now being floated, many are wondering what the new price should be as a benchmark for the raw material.
Mydin Mohamed Holdings Bhd managing director Datuk Ameer Ali Mydin said the government’s move to place the prices of chicken on float should foster healthy competition among traders, ultimately benefiting consumers.
Datuk Jeffrey Ng, Advisor to the Federal Livestock Farmers Association of Malaysia, said public concerns over increased prices were also unfounded – adding that most supermarkets are selling chicken for less than RM8 per kg after subsidies and price controls were discontinued starting today.
Despite a recent dip in chicken prices across major supermarket chains, customers at wet markets who preferred “fresher” poultry products remain apprehensive about potential price increases in the weeks ahead.
The government should closely monitor the production, supply, wholesale, and retail distribution systems to ensure there are no bottlenecks or profiteering in the market following the discontinuation of the chicken subsidy tomorrow.
Bank Negara Malaysia today dismissed the inaccurate ringgit exchange rate data circulating on social media, which was based on an erroneous USD/RM exchange rate published by Google on Friday, March 15.
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