KUALA LUMPUR: The Mydin hypermarket will be selling chicken for RM7.99 per kg for at least a week.
Mydin Mohamed Holdings Bhd (Mydin) managing director Datuk Dr Ameer Ali Mydin assured that the price would remain stable for a week due to the weekly contract with suppliers.
"Even after one week, I do not foresee the price going up significantly. The price might rise slightly, but it will not increase substantially.
"Regardless of our costs, we must maintain our usual modest profit margin and set the price. The government should not be overly concerned or feel the need to intervene.
"I have observed a one-step-at-a-time approach by the government. I believe this sends a clear message to the government that the private sector is not exploiting the discontinuation of price controls for chicken," he told the New Straits Times.
However, Ameer suggested that the government come up with a list of items to be placed under price control, including chicken, for the upcoming Deepavali.
"My suggestion is to manage price control, maintaining the current price of RM9.40. Price control could be implemented three days before and after Deepavali," he said.
On Oct 30, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu announced that subsidies and price controls for chicken would be discontinued from Nov 1.
He said the termination of chicken subsidies has taken into consideration the current supply and price trends, and the cost of chicken production has begun to stabilise, contributing to the current market prices being below the ceiling price.