The Malaysian Insight

THE Domestic Trade and Consumer Affairs Ministry is still looking into whether an egg cartel was involved in the recent spike in egg prices, said its minister Saifuddin Nasution Ismail. Saifuddin said the Malaysia Competition Commission was still investigating the matter.

“They are looking into it and will report to me from time to time on whether there is a cartel in the egg business.

“They will also check if there was an element of territory division or other forms of manipulation,” he told a press conference in Penang today.

The prices of eggs recently jumped by almost 30% in a week. The price for a crate of 10 eggs reportedly hit RM5.11 compared with less than RM4 a week before.  

Earlier this week, Saifuddin reportedly said the ministry was looking across the supply chain to determine whether collusion or cartels artificially boosted prices.

Yesterday, Agriculture and Agro-based Industries Deputy Minister Sim Tze Tzin said the prices had now stabilised with the egg supply returning to normal.

The spike was caused by a sudden supply shortage in the northern region, following the temporary closure of a farm in Perak for suspected bird flu.

The incident led to panic buying by some egg dealers.

However, the farm has since been cleared and allowed to return to business. – December 22, 2018.