End of chicken subsidies, price controls should not lead to price gouging: Mydin boss

Datuk Ameer Ali Mydin says company selling at RM7.99 per kg to encourage fair pricing 

9:04 PM MYT

 

KUALA LUMPUR – The end of subsidies and price controls on chicken today should not serve as a justification for traders to unreasonably inflate the prices of this essential food item.  

Instead, Mydin Mohamed Holdings Bhd (Mydin) managing director Datuk Ameer Ali Mydin said the government’s move to place the prices of chicken on float should foster healthy competition among traders, ultimately benefiting consumers. 

He also noted that he is committed to continuing to provide reasonably priced chicken to avoid burdening consumers.  

Mydin is currently offering chicken at RM7.99 per kg this week, with prices subject to weekly adjustments based on prevailing market conditions. 

“At Mydin, there are no limits on the number of customers who can enjoy this price – everyone pays the same, ensuring fairness,” he said. 

Commenting on Mydin’s initiative to set the price of chicken at RM7.99 per kg, Ameer hopes that this move will set a benchmark for other chicken traders, encouraging them to maintain reasonable prices.  

“We are offering this price as a benchmark, as we want to prevent the possibility of other sellers charging as much as RM12 per kg. 

“By observing Mydin’s price of RM7.99, we hope other sellers will think twice before pricing their chicken significantly higher. Selling it at RM9.40, which is the ceiling price, would be reasonable.” 

Furthermore, Ameer assured that if Mydin needs to adjust its prices due to changing circumstances, their brand’s chicken will not exceed RM9.40 per kg.

“If our costs rise, we commit to keeping our prices below the previous ceiling of RM9.40,” he affirmed. 

Meanwhile, a survey by Scoop at various supermarkets in the Klang Valley today revealed that chicken prices ranged from RM7.59 to RM9.50 per kg. 

On Monday, the government announced the end to chicken price subsidies in order to address concerns about the leakage of subsidies to foreign individuals and higher-income groups.  

This decision was made after considering the current market conditions, supply trends, farm prices, and the stabilisation of chicken production costs, which have led to market prices staying below the ceiling price. – November 1, 2023 

Topics

 

Popular

Petronas staff to be shown the door to make up losses from Petros deal?

Source claims national O&G firm is expected to see 30% revenue loss once agreed formula for natural gas distribution in Sarawak is implemented

‘Very hurtful’: Chief justice exposes legal failures driven by distorted Islamic views

Tun Tengku Maimun Tuan Mat laments misinterpretations of faith that distort justice in high-profile rulings, cites Indira Gandhi and Nik Elin Zurina cases

The ‘powerful’ fallacy of MCMC – Wong Chun Wai

New regulations are needed to police rampant crimes committed on social media platforms used by millions of Malaysians

Related