IPOH: The increase in egg prices is because of bird flu affecting poultry, said Datuk Salahuddin Ayub.
The Agriculture and Agro-based Industry Minister said the flu was causing a shortage in egg supply, but assured that this was only temporary.
"My ministry is in discussions with the Domestic Trade and Consumer Affairs Ministry (KPDNKK) on steps to contain the pricing,” he told reporters on the sidelines of Parti Amanah Negara’s national convention here.
It was reported recently that egg farmers are closing shop due to soaring feed prices, and that egg production had dropped by an estimated of 70% compared to two years ago.
With demand exceeding supply, prices have risen.
Salahuddin said the issue will be settled soon, and it was best for the committee (which had been set up to investigate the egg price hike) to first look into the issue of supply.
When asked if there will be a contingency plan by the ministry as Chinese New Year will be celebrated in two months, he said the exact problems causing the price hike must be examined first.
"Once the committee has come up with a report, we will take the necessary measures,” he added.
The Malaysia Competition Commission (MyCC) recently said they were working closely with KPDNKK to probe any possible price fixing and market manipulation by cartels which had led to the increase of chicken egg prices.
MyCC said in a statement on Thursday (Dec 13) that they were looking into the possibility of profiteering or anti-competitive behaviour amongst market players.