Malaysia to spend $84 million subsidising chicken and egg prices -ministry
FILE PHOTO: A Malaysian retailer works at his egg stall at a market in Kuala Lumpur on November 24, 2004. REUTERS/Bazuki Muhammad
KUALA LUMPUR : Malaysia's government has allocated 369.5 million ringgit ($84.00 million) to subsidise chicken and egg prices, the agricultural and food industries ministry said on Wednesday.
New ceiling prices on the goods will come into effect on July 1, the ministry said in a statement. The government had earlier said it would lift ceiling prices on chicken and eggs from July after measures to control food inflation created market distortions.
($1 = 4.3990 ringgit)
Source: Reuters
