KUALA LUMPUR (Oct 13): The government will lift the price controls on chicken and eggs, as supply has stabilised and the retail prices now are below the set ceiling prices, according to Prime Minister Datuk Seri Anwar Ibrahim.

This is to allow room for the market to freely manoeuvre in ensuring there is uninterrupted supply, Anwar said in his Budget 2024 speech at the Dewan Rakyat on Friday.

Anwar, who is also the finance minister, said the government had spent RM3.8 billion on chicken and egg subsidies since February, which were initially aimed at controlling a sudden increase in chicken and egg prices and addressing a supply shortage.

“Current trends indicate that the supply of chicken and eggs has started to stabilise, and the current market prices are now below the controlled ceiling prices.

“Thus, the temporary price controls will be lifted to enable the local market to function freely in ensuring the availability of chicken and egg supply in the market,” he added.

However, the prime minister stopped short of providing details, merely following up by saying Agriculture and Food Security Minister Datuk Seri Mohamad Sabu will be making an announcement on further measures in two weeks’ time.

Previously, the government had set out a plan to remove subsidies for chicken and eggs by end-June, and then float their prices by July 1. But Putrajaya backtracked on the plan, and decided to maintain the subsidies and price controls.

This led to the current state of affairs, where the standard chicken price is capped at RM9.40, while Grade A eggs are fixed at 45 sen.

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