Prices of essential goods to be stable in 1Q22


THE price of essential goods is expected to be stable by the first quarter of 2022 (1Q22), according to Domestic Trade and Consumer Affairs (KPNDHEP) Minister Datuk Seri Alexander Nanta Linggi (picture).

“In this regard, it is projected that price stability can be achieved in the middle of the 1Q22, which is at the end of January or February 2022,” he said in a statement yesterday.

Earlier, he told Dewan Negara yesterday that Malaysia is affected by the global prices as the feed and poultry raw materials were imported from abroad.

“For example, corn and soy constituted 60% of the components of poultry feed production and the amount we imported is almost 100%,” Nanta Linggi said in response to Dewan Rakyat senator Khairil Nizam Khirudin.

He said that the issue of chicken prices also revolves around operating costs resulting from food chain problems such as labour capacity, logistics and middlemen issues.

“Another factor that also affected was the lack of supply to cope with the high demand factor when the economic sector began operations,” he stated.

The ministry continues to conduct engagements and discussion sessions with relevant ministries and industries affected by the prices.

“This is mainly to assist in addressing the issue of breeders’ operational costs especially from the farm,” he said.

Besides, KPDNHEP has recommended soft loan assistance and moratorium facilities to help address the operating costs of their business.

At the same time, the ministry has also implemented the Festive Season Maximum Price Scheme to stabilise unreasonable price increases.

“The price monitoring of goods is also carried out on a daily and consistent basis by the Price Monitoring Officer appointed by the ministry,” he noted.

According to him, KPDNHEP is currently developing the Malaysian Family Sales programme for 222 Parliamentary constituencies with a frequency of twice a month.

“The programme involves joint ventures and multi-level involvement of government agencies that will offer a sale price of goods at

15% to 20% cheaper than the market price to help ease the burden of consumers during this time,” he added.

The Minister of Agriculture and Food Industries Datuk Seri Ronald Kiandee is also confident that the chicken supply in the market will be stabilised by February next year.

He said his ministry, through the Department of Veterinary Services, held engagement sessions with local poultry industry players who gave their commitment to increase production capacity in line with current demand.

“This problem (chicken supply) is temporary and the import (of frozen whole chicken) made by the government is a temporary measure too. It will be stopped as soon as local production is stabilised,” he said at the Ministers’ Question Time session in the Dewan Rakyat.