The Malaysian Insight

THE removal of ceiling prices for chicken and eggs after June will lead to higher prices of food, traders warned.

They said floating the prices of these two staple items would not necessarily overcome supply issues.

The Agriculture And Food Security Ministry has announced that it is lifting curbs on the prices of the two items to over shortages.

Federation of Selangor and Kuala Lumpur Hawkers Association complaints head Boon Kok Choon told The Malaysian Insight food prices will increase it they are left to market forces to decide.

“Floating prices will not resolve the problem of supply but add to the burden on hawkers and consumers.

“The government should solve the problem instead of throwing it back to the people,” he said.

Food sellers use eggs and chickens in large quantities and uncontrolled prices will cause the prices of food to surge, he said.

“Hawkers have been absorbing the rising costs. But if the prices of chicken and eggs are not controlled, hawkers will be forced to raise their prices,” he said.

In Penang, Koo Soo Kwong Choon Tong Restaurant and Tea-house Association chairman Vinah Yee Yook Chee said menu prices would have to be revised if chicken and eggs cost more.

She said some customers had already paid in advance for wedding banquets and the restaurants would have to absorb the higher costs of ingredients.

Bakeries and biscuit manufacturers have yet to decide if they will to increase their prices following the floating of egg prices.

Malaysian Bakery, Biscuit, Confectionery, Mee and Kuey Teow Merchants Association vice-president Lai Yee Kein said the members will review the situation in June.

“The market is really bad now and no one dares to act rashly,” he said.

“Although profits are thin, the situation is bleak and we dare not raise prices.” – March 7, 2023.