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Home » Blog » Govct will closely monitor reasons behind food price hikes, says Nanta

Govct will closely monitor reasons behind food price hikes, says Nanta

KUALA LUMPUR: The Domestic Trade and Consumer Affairs Ministry is constantly monitoring the prices of goods, especially those involving food and basic necessities, including Gardenia Bakeries (KL), which will increase prices of most of its products from Dec 1.

Minister Datuk Seri Alexander Nanta Linggi (pic), said that they would call the company Friday (Nov 27) to obtain information on the cause behind the increase in prices.

“When the price goes up, we will do as we have done all this time. We will carry out engagement, research and ask them about the cause of the increase.

“We hope with the information, we will be able to find a way for us to address the price problem,” he said when met by reporters here on Thursday (Nov 25).

Commenting on the price of chicken and vegetables, he said that the increase in operating costs of livestock companies, import costs, and increase in the price of fertilisers and pesticides were among the reasons that contributed to the increase in prices in the market.

“The Ministry has monitored and studied – we found that the reason for the increase in chicken and chicken eggs is due to the increase in operating costs of poultry companies. Most of the operating costs involve food costs which are almost 100% imported from foreign countries, such as corn and soy.

“In terms of vegetables, there are locally produced vegetables for which prices have gone up because we have now reached the end of the year, the monsoon season, when vegetable prices will increase. In addition, the price of fertilisers and pesticides, as inputs for the production of fruits and vegetables, has also risen sharply,” he said.

Commenting further, his party will continue to work with the Ministry of Agriculture and Food Industries (MAFI) in an effort to control selling and retail prices, specifically at the production stage. – Bernama

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