Malaysia will halt exports of 3.6 million chickens a month from June 1 and scrap the approved permit requirement for importing wheat until production and prices stabilize, Prime Minister Ismail Sabri Yaakob said.
The government set a ceiling price of 8.9 ringgit ($2) per chicken and said it would recognize more slaughterhouses abroad in a bid to boost local supplies and curtail rising prices, according to a statement on Monday.
The measures come days after Ismail abolished the approved permit rules for imports of food items including chicken, coconut and evaporated milk to secure adequate food supplies in the country. The move is likely to impact neighboring Singapore, which sources a third of its chicken supply from Malaysia, according to data from the Singapore Food Agency.
The Malaysia Competition Commission is investigating reports that there are cartels that control the price and output of chicken among large companies, Ismail said, promising stern action against those found sabotaging supply.
Malaysia joins other governments in taking steps to secure their own supplies with food costs surging to records as the Ukraine war chokes crop supplies, piling inflationary pain on consumers. Food prices in the Southeast Asian nation jumped 4% year-on-year in March, the most since December 2017, as the costs of chicken and vegetables spiked more than 10%.
{{/usCountry}}Malaysia joins other governments in taking steps to secure their own supplies with food costs surging to records as the Ukraine war chokes crop supplies, piling inflationary pain on consumers. Food prices in the Southeast Asian nation jumped 4% year-on-year in March, the most since December 2017, as the costs of chicken and vegetables spiked more than 10%.
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