Govt saves RM135mil in three months from egg subsidy cut
He said the reduction and eventual removal of the egg subsidy is not expected to affect the stability of the egg supply, as the industry is currently showing positive trends, including a drop in poultry feed costs.
"The retargeting of subsidies and removal of price controls on eggs will enable the government to reduce expenditure and reallocate subsidy funds to initiatives and programmes that provide direct benefits to the people," he said in reply to Datuk Seri Sh Mohmed Puzi Sh Ali (BN-Pekan).
Sh Mohmed Puzi was asked about the retargeting of the egg subsidy from 10 sen to 5 sen per egg, the savings through the reduction in subsidy expenditure, the impact on the egg market, and the effect on the overall cost of living.
Mohamad said at present, the supply of chicken eggs remains stable and is being sold at reasonable prices.
He said this month, the estimated monthly egg production is 1.75 billion eggs, while domestic consumption needs are estimated at 1.06 billion eggs.
"This indicates a surplus of approximately 0.69 billion eggs, part of which will be allocated for export markets."
He said the annual inflation rate for chicken eggs recorded a decline of 5.3 per cent in May.
"However, this decrease has not occurred uniformly across all egg grades, likely due to a market price adjustment phase following the implementation of targeted subsidies."
He said to ensure egg supply and prices remain stable, the ministry, together with the Domestic Trade and Cost of Living Ministry, will continue close monitoring of the egg market to prevent supply disruptions and profiteering that could burden consumers.
"Both ministries are also carrying out continuous enforcement and monitoring measures to maintain price stability and prevent any leakages that may undermine consumer interests."
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