Nanta: Cost of livestock inputs among factors affecting chicken prices
KUALA LUMPUR: The price of chicken is influenced by several factors, including the cost of livestock inputs, especially imported animal feed such as soybeans and corns, which are determined by foreign exchange rates, said Domestic Trade and Consumer Affairs Minister Dato Sri Alexander Nanta Linggi.
He said in addition, chicken prices in the market are also influenced by the demand and supply as the economic sectors and business activities have resumed operations.
“As demand increases in the market, the supply is still in the phase of adapting to the demand. This situation has caused an imbalance in the demand and supply,” he said during the question and answer session at the Dewan Rakyat yesterday.
He was replying to a question by Rusnah Aluai (PH-Tangga Batu) who wanted to know the ministry’s efforts and plans to lower the retail price of chicken as the current price is quite unreasonable and could burden the consumers.
Nanta said the ministry was in constant discussion with the Ministry of Agriculture and Food Industries to stabilise chicken prices so that it does not burden the traders and consumers.
Meanwhile, the ministry implemented several methods, including mobilising over 1,000 price monitoring and 2,200 enforcement officers to monitor chicken prices at the wholesaler and retailer level to ensure that there are no price profiteering activities while maintaining business ethics.
Apart from that, a special task force was set up to address the issue of rising chicken prices in the market directly, as well as engagement sessions with poultry breeders.
Nanta said the government is also reviewing suggestions, among others, providing soft loan facilities to chicken breeders to assist with the cost of business operations and to stabilise the chicken prices at the market.