Ministry of Domestic Trade and Consumer Affairs takes the issue of rising chicken and egg prices seriously and will monitor price movements and the supply status of these goods.
The Ministry said in a statement today that the action was taken for the sake of price stability, especially for basic consumer goods by ensuring that there is no price manipulation or unreasonable profiteering among traders.
It will also not hesitate to implement acts such as the Control of Supply Act 1961 and the Price Control and Anti-Profiteering Act 2011 if the situation requires.
“The ministry will continue to monitor the movement of chicken prices at all times. Any trader who is found to be profiteering or making unreasonably high profits may be subject to action under Section 14 (1), AKHAP 2011.
“A total of 291 written notices under Section 21, AKHAP 2011 have been submitted to traders to obtain detailed information on sales transactions, costs to detect price increase activities and profiteering offenses.
“The price of chicken and eggs is not included in the list of controlled items except during the main festive seasons in Malaysia through the implementation of the Festive Season Maximum Price Scheme (SHMMP) where demand at that time increases and will usually put pressure on the price of festive necessities,” the Ministry stated on Thursday.
According to the statement, it was found that the increase in the price of the goods was due to an increase in costs at each stage of the supply chain.
At present, detailed cost information is being obtained and investigated to trace the cause before any control action is implemented.
