Chicken prices may soar once floated

PUTRAJAYA: The price of chicken is expected to rise next month when it is floated following the end of the maximum retail price scheme on June 30.

Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said following the possibility of price hikes involving chicken, the Ministry of Finance (MOF) was planning to provide assistance to the needy which would be finalised by the end of this month.

"MOF will do something to help those in need," he told a press conference after the monthly assembly of the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) here today.

The government sets the maximum retail price of standard chicken at RM8.90 per kilogramme and super chicken (slaughtered and cleaned without legs, head, liver and gizzard) at RM9.90 per kg.

Previously, chicken breeders have expressed their hopes that the government will allow a free float of chicken prices following its decision to end the subsidies issued to breeders effective July 1.

Meanwhile, Nanta reminded industry players not to take advantage of the floating price by raising the price of chicken arbitrarily.

He said KPDNHEP would also monitor the price aspect and if necessary will use the power under the Price Control and Anti-Profiteering Act (AKHAP) 2011 against errant traders.

"I hope the industry players will not take advantage and raise the price too much. We will accept if it is reasonably done as we all know that cost of operation has increased," he said.

-- BERNAMA