Egg prices reduction mainly benefit consumers

Deputy President of the Federation of Livestock Farmers’ Associations of Malaysia, Lee Yoon Yeau, mentioned that the three-sen decrease in egg prices has benefited the consumers, while poultry farmers remain largely unaffected for now.

“This policy is more beneficial to consumers and does not result in significant losses for poultry farmers,” he said, reported Guang Ming Daily.

He said after the price reduction of eggs, the retail price of eggs in our country is lower compared to neighbouring countries.

Using Grade C eggs as an example, he stated that the retail price of eggs in our country is the cheapest among Southeast Asian countries, he said.

He said that when converted to Malaysian ringgit, the retail price of Grade C eggs in Singapore is 70 sen, nearly double the adjusted price in our country (38 sen).

He said that even after the 3 sen reduction in the retail prices of Grade A, B, and C eggs, the government still subsidises each egg by 10 sen, with no reduction in the subsidy.

He mentioned that before announcing this policy, the Agriculture and Food Security Ministry obtained egg production data from farms, and egg traders held meetings with the Ministry of Domestic Trade and Consumer Affairs and the Ministry of Agriculture to discuss the matter.

He predicted that with the government announcing this measure, the sales of eggs, as the cheapest essential item, might increase.

After all, with each egg being reduced by 3 sen, the price of a tray of eggs will drop by 90 sen.

Egg prices weren’t the only thing that faced changes this month, on June 10, bulk diesel subsidies were ended in Peninsula Malaysia, causing diesel prices to fluctuate with the market.

The diesel prices are now fixed at RM3.35 per litre.