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Govt still investigating possible ‘egg cartel’

Looi Sue-Chern6 years ago22nd Dec 2018News
Saifuddin nasution ismail david st loh 20181222
Domestic Trade and Consumer Affairs Minister Saifuddin Nasution Ismail says the Malaysia Competition Commission is looking into the possibility of an egg cartel and will report to him from time to time on its existence. – The Malaysian Insight pic by David ST Loh, December 22, 2018.
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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.

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