KUALA LUMPUR: The Malaysia Competition Commission (MyCC) is closely monitoring market activities following the end of subsidies and price controls on chickens yesterday.
MyCC said it was collaborating with the Domestic Trade and Consumer Affairs and the Agriculture and Food Security ministries to gain access to data, which will assist them in monitoring the markets.
"The removal of subsidies and price controls for chicken should not be exploited by any party. (And) based on our observations, competition in the chicken market appears to show positive signs.
"The chicken supply in the market has not been disrupted, and chicken prices during the first two days of this transition period were within the range of RM6.49 to RM11 per kilogramme," it said in a statement.
Following the government's action, chicken prices which were set at RM9.40 per kg will now be "floated", with prices determined by market conditions of the day.
MyCC has affirmed that appropriate action will be taken if any party fails to comply with the regulations, although they have not received any complaints from any party yet.
"In the investigations we conducted last year against chicken food production companies, we did not hesitate to take appropriate action if there was any indication of interference with the competition process by any industry player, at any level of the supply chain.
"We remain committed to ensuring healthy competition in the chicken market for the benefit of consumers and will continue to closely monitor the market to detect any signs of anti-competitive behavior."