KUALA LUMPUR: Mydin hypermarket managing director Datuk Ameer Ali Mydin said the government is heading in the right direction by temporarily lifting price controls for eggs and chicken.
Ameer said many people opted for Omega eggs priced at more than 60 to 65 sen each, and the chicken price is around RM8 to RM8.50, which falls below the price control of RM9.40.
"There will be an increase in the egg price with the price control removal, as the eggs have not been available in the market for a very long time," he said.
Yet he assured that the chicken price in Mydin would remain stable without experiencing a significant increase.
He emphasised that if the prices of chicken and eggs go haywire, the government could always intervene and reinstate price control like they usually do during festive seasons.
"The government can reintroduce it, but more importantly, I would suspect that this will allow market forces to act and the prices will stabilise.
"There is no reason chicken prices in Malaysia to rise so high. We are allowed to import chicken from Thailand and Brazil, which will stabilise the prices," he told the New Straits Times.
However, his concern would be the price control on sugar and rice, which was not raised yesterday during the tabling of the 2024 Budget, as there is already a supply shortage in the market.
He said embracing a free market approach becomes particularly relevant during stable periods, given Malaysia's fortunate absence of war, floods, and adverse conditions.
"I am more concerned about sugar and rice, though.
"The government had demonstrated its willingness to lift price controls on chicken and eggs, but they should take the next step and do the same for sugar and rice," he added.
Commenting on the government imposing an excise duty, he said his business would not be affected as much as consumers, who now have to opt for healthier drinks.
Prime Minister Datuk Seri Anwar Ibrahim announced yesterday that the government had temporarily suspended price controls on eggs and chicken.
This bold move aims to allow the local market to operate more freely, ensuring an adequate supply of these essential commodities.
He said the Agriculture and Food Security Ministry will announce the details of these measures in two weeks.
