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Malaysia has banned the export of live chicken to Singapore for less than two weeks, and chicken stalls have pointed out that the price of frozen chicken has doubled during this period, selling for about 6 yuan per kilogram, at least a new high in 15 years.
Frozen chicken, which originally sold for $3.50 a kilogram at the start of the year, has now soared to $5.20.
Some practitioners said that now fresh chicken does not know how long it can last, has told customers to buy frozen chicken psychological preparation, but now the price offered by suppliers is very high, there is no way but to adjust the price. It only makes about 3 dimes per kilogram, but not all customers can understand.
(Figure: Source from the network)
Frozen chicken prices have recently doubled, mainly because frozen chicken prices have risen at the beginning of the year due to logistics costs, air freight and high costs for foreign chicken farmers, and have recently been pushed up by supply and demand, so that the overall price of frozen chicken has risen by 40% to 50% since the beginning of the year, the highest selling price record in the past 10 years.
Many chicken stalls in Pasar have been temporarily closed due to supply disruptions, and many people have gone abroad during the school holidays in June, and the scene of resuming liveliness after the relaxation of epidemic prevention measures has become deserted.
Many suppliers in Singapore are also currently suspending supply, allowing staff to take time off.
(Figure: Source from the network)
In response, an economist in Malaysia said that the chicken shortage exposed the structural problems that Malaysia needs long-term reforms.
Another economist said the shortage could lead to a permanent loss of Singapore's export market for Malaysian poultry farmers.
Jeffrey Williams, professor and dean of the Graduate School of Science and Technology University of Science and Technology Malaysia, said the problems exist in food production, distribution and trade, and there is a lack of safety and security.
In an article on his LinkedIn, he agreed with the government's measures to limit the price of chicken sold in Malaysia and to improve domestic supply by encouraging imports and curbing exports. Williams also advised the government to cancel import permits for food and animal feed because the high cost of feed will be passed on to consumers.
Eliminating and punishing anti-competitive practices, such as cartels that allegedly control chicken prices and production, are also crucial to the industry's recovery. Once the export ban is lifted, he expects the market to return to normal.
(Figure: Source from the network)
Carmelo Felito, chief executive of the Market Education Centre, an economist at kuala Lumpur think tank, said Malaysia's export ban and price cap amounted to a "punishment" for the poultry industry. He said the measures would exacerbate price tensions and prolong the supply-demand adjustment process.
Williams believes that Malaysia's export ban and the chicken shortage it has caused in Singapore are Singapore's problem, not Malaysia's problem. Chicken from Malaysia accounts for a third of Singapore's chicken imports, he said.
In contrast, economist Felito said the shortage could lead to Malaysian poultry farmers losing their export markets in Singapore forever. He said the export ban could force some chicken producers to close their operations, affecting local chicken supplies.
Currently, to make up for the poultry shortage here, Singapore plans to import frozen chicken from Australia and Thailand, as well as frozen chicken from places like Brazil and the United States.
(Figure: Source from the network)
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