Egg prices may rise by 10 sen after subsidy cut, says Mydin boss
The government reduced subsidies from 10 sen to 5 sen per egg yesterday, with full removal and the end of price ceilings scheduled for Aug 1.
PETALING JAYA : Egg prices may rise by about 10 sen following the removal of government subsidies and price controls, but the increase is expected to stabilise supply and strengthen the industry, says Mydin managing director Ameer Ali Mydin.
Ameer said the slight increase was part of the transition to a healthier, market-driven system that would ultimately reduce shortages and create a more resilient egg industry.
Ameer Ali Mydin.
'Since there's no price control, the prices of eggs would probably go up by 10 sen and eventually, when there's more supply in the market, the prices will stabilise,' he told FMT.
The government reduced subsidies from 10 sen to 5 sen per egg yesterday, with full removal and the end of price ceilings scheduled for Aug 1.
Egg prices are currently capped at 42 sen (Grade A), 40 sen (Grade B) and 38 sen (Grade C) per egg.
It was reported that the subsidy of 10 sen per egg involved an expenditure of RM100 million.
Ameer said the liberalisation would allow the industry to scale up production and resume exports to key markets like Singapore and Hong Kong, which were previously restricted because of domestic pricing policies.
He also cautioned against complicating matters by introducing a new 'special grade' of affordable eggs.
'I don't agree with the government introducing items like special grade eggs. We already have grades A, B, C, D and E. Please don't come up with another grade.
'Even the mamak shop doesn't buy grade D because they're too small,' he said.
Jeffrey Ng.
Jeffrey Ng, adviser to the Federation of Livestock Farmers' Associations of Malaysia, also hailed the reduction of subsidies from 10 sen to 5 sen per egg, with full removal and the end of price ceilings by Aug 1 as a step towards long-term industry health.
'We believe floating prices are a better mechanism. Continuous subsidies may not be helping either the industry or consumers,' he said.
Ng said supply remained stable even during the recent festive period, so farmers would be well-prepared for the transition away from subsidies.
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