Malaysia is removing price control for chicken and chicken eggs, as well as the subsidy for palm oil used for cooking!
Here is what you need to know…
Malaysia Removes Price Control, Subsidy For Chicken, Eggs, Cooking Oil!
On 21 June 2022, Malaysia’s Domestic Trade and Consumer Affairs (KPDNHEP) Minister Alexander Nanta Linggi, announced that price control for chicken and chicken eggs, as well as subsidies for palm oil used for cooking will be removed.
Currently, the Malaysian government imposes the current maximum retail price for chicken and palm oil used for cooking in Peninsular Malaysia.
- Standard whole chicken : RM 8.90 per kg
- Super whole chicken (without legs, head, liver and gizzard) : RM 9.90 per kg
- 5 kg palm cooking oil : RM 29.70 per bottle
- 3 kg palm cooking oil : RM 18.70 per bottle
- 2 kg palm cooking oil : RM 12.70 per bottle
- 1 kg palm cooking oil : RM 6.70 per bottle
From 1 July 2022 onwards, the price of chicken will be floated, and will depend on market forces; and the subsidy and price limit on bottled palm cooking oil of 1 kg, 2 kg, 3 kg and 5 kg will be abolished.
The abolishment of the palm cooking oil subsidy will save the government about RM 20 million a month. However, they will maintain the subsidy for cooking oil sold in 1 kg polybag packages, priced at RM 2.50 per packet.
The government needed to remove the price control on chickens, because they would stop giving subsidies to poultry farmers on 1 July 2022 as well.
The inflation of food prices will inevitably increase in July, so please be prepared!
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