PETALING JAYA: Competition in the chicken market appears to be showing “positive signs” following the recent removal of price controls, says the Malaysia Competition Commission (MyCC).
MyCC CEO Iskandar Ismail said the supply of chicken remains stable despite prices ranging between RM6.49 and RM11 per kg.
“So far, we have not received any complaints (from) anyone,” he said in a statement today.
At the tabling of Budget 2024 last month, Prime Minister Anwar Ibrahim said the temporary price controls for eggs and chicken will be lifted to allow market forces to determine prices.
On Monday, agriculture and food security minister Mohamad Sabu said subsidies and control prices for grade A, B and C eggs will remain, while subsidies and price controls for chicken will cease.
Despite positive signs, Iskandar said, the commission will continue its monitoring of the market to detect signs of anti-competitive behaviour.
“Much like the investigation conducted by MyCC last year involving the chicken feed millers, we will act without fear or favour should the market show any indication of distortion of competition by players in any level of the supply chain,” he said.
Iskandar said MyCC would leverage data provided by the domestic trade and cost of living ministry as well as the agriculture and food security ministry to detect and respond to potential market distortion.
“MyCC understands the importance of chicken serving as one of the main sources of protein for consumers in Malaysia.
“We remain dedicated to ensuring the existence of competition in the market (in) the best interests of consumers,” he said.