KUALA LUMPUR, June 18 — The government’s decision to reduce egg prices by three sen may lead to market distortions again, MCA president Datuk Seri Wee Ka Siong warned. He said...
MCA president Datuk Seri Wee Ka Siong said if shortages were to re-occur, prices would go up again as production of eggs cannot be easily ramped up overnight. — Picture by Sayuti ZainudinKUALA LUMPUR, June 18 — The government’s decision to reduce egg prices by three sen may lead to market distortions again, MCA president Datuk Seri Wee Ka Siong warned.
He said if shortages were to re-occur, prices would go up again as production of eggs cannot be easily ramped up overnight.“The decision by the government to reduce egg prices by three sen may backfire and cause Malaysians even more harm and cost our government even more money in blanket subsidies for eggs which already exceeds RM927 million this year,” he said.
Wee was commenting on Prime Minister Datuk Seri Anwar Ibrahim’s announcement yesterday that the price of eggs will be cut by three sen. The MCA chief said eggs supply has stabilised in recent months but has yet to reach the same levels as in 2019 before the pandemic.“The poultry industry has yet to rebuild its production buffer that existed in the past,” he said.
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