The Malaysian government just announced the ceiling price for chicken and eggs for July to August 2022!
Earlier : Malaysia U-Turns On Chicken Price Float
Just 3 days after announcing that the price of chicken and eggs would be freely floated, the government of Malaysia announced a U-turn.
At 5:45 PM on 24 June 2022, the Prime Minister of Malaysia Ismail Sabri announced that the government has cancelled the floating of chicken price, and will continue to impose a price ceiling.
Malaysia Announces July-Aug Ceiling Price For Chicken, Eggs!
On Wednesday, 29 June 2022, the Agriculture and Food Industries Minister Ronald Kiandee announced that the ceiling price for chicken and eggs for Peninsular Malaysia for July and August 2022.
From 1 July until 31 August 2022, the price of a standard whole chicken would be capped at RM 9.40, but there was no mention of a price cap for the super whole chicken (slaughtered and cleaned without legs, head, liver and gizzard).
The price for eggs would also go up in tandem, with Grade A eggs capped at 45 sen each, Grade B eggs capped at 43 sen each, and Grade C eggs capped at 41 sen each.
Here is a comparison table of the current and new prices, with my calculations on the difference :
|Feb to June||July to Aug||Difference|
|Standard Whole Chicken||RM 8.90 per kg||RM 9.40 per kg||+5.6%|
|Super Whole Chicken||RM 9.90 per kg||NA||NA|
|Grade A Eggs||RM 0.43 each||RM 0.45 each||+4.7%|
|Grade B Eggs||RM 0.41 each||RM 0.43 each||+4.9%|
|Grade C Eggs||RM 0.39 each||RM 0.41 each||+5.1%|
In general, the ceiling price for chicken and eggs in Malaysia would be raised by about 5%, which is significantly lower than the 33% hike expected if their prices were freely floated.
This subsidy though isn’t really free, as taxpayers are ultimately footing the bill.
According to the government, it will spend RM 369.5 million for this additional subsidy on chicken and eggs, bringing the total amount spent to RM 1.1 billion since February 5, 2022.
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