The Malaysia Competition Commission has handed down a whopping RM415.5 million fine to five poultry feed companies after being found to have jointly fixed prices for their products in the local chicken-rearing industry.
Seafood prices, particularly for popular fish species, have experienced a decline this week in wet markets all across the Klang Valley, despite ongoing uncertainty in supplies during the monsoon season in the east coast states.
The Domestic Trade and Cost of Living Ministry will immediately carry out three steps to monitor the issue of chicken prices following the discontinuation of subsidies and price control, effective yesterday.
Following the termination of the chicken price ceiling and the value now being floated, many are wondering what the new price should be as a benchmark for the raw material.
Mydin Mohamed Holdings Bhd 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.
