SERDANG: The price of chicken can be much lower than the previously set controlled price of RM9.40 per kg even after subsidies and price controls are discontinued from Nov 1.
Acting domestic trade and cost of living (KPDN) minister Armizan Ali said industry players have assured the government there would be an adequate supply and there would be no surge in prices of chicken from Nov 1 following the termination of subsidies and price controls.
“After implementing (subsidies and price controls on chicken) for 20 months, we can now float the price of chicken,” he said after officiating at the Malaysia Competition Commission (MyCC) Open Day here today.
Agriculture and food security minister Mohamad Sabu yesterday announced that the government would remove subsidies and price controls for chicken from tomorrow.
Subsidies and price controls for grade A, B and C eggs will remain.
Despite the assurances from the industry, Armizan said KPDN would still mobilise 900 officers to all areas tomorrow to monitor chicken prices and take legal action if necessary.
In another development, Armizan said KPDN is in the final stages of amending the Competition Act 2010 (Act 712) and the Competition Commission Act 2010 (Act 713), which would likely be tabled in the first session of the Dewan Rakyat next year.
On amendments to Act 712, he said it would introduce a new component for a merger and acquisition control regime as there is a tendency for companies to merge and collude to limit prices and production.
Since 2012 until October 2023, MyCC has taken action against 247 companies, with penalties amounting to RM175 million, for offences under Act 712, while 430 cases are still under investigation, he added.