Malaysia to halt export of 3.6 million chickens from June amid Shortage - Hindustan Times
close_game
close_game

Malaysia to halt export of 3.6 million chickens from June amid Shortage

Bloomberg |
May 23, 2022 05:18 PM IST

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.

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 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 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 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.

Unlock exclusive access to the latest news on India's general elections, only on the HT App. Download Now! Download Now!

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%.

 

Elevate your career with VIT’s MBA programme that has been designed by its acclaimed faculty & stands out as a beacon for working professionals. Explore now!

Discover the complete story of India's general elections on our exclusive Elections Product! Access all the content absolutely free on the HT App. Download now!
Get latest news on Education along with Board Exam, Competitive Exam and Exam Result at Hindustan Times. Also get latest Job updates on Employment News
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Tuesday, May 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On