Malaysia Limited Their Export, Egg prices are rising in Singapore
Mr. Albata Tripi a Small Business owner Said He is running a small bakery from 56 years and making a variety of cakes, buns, and pastries and other goodies. he uses over 200 eggs daily and they cost over $600 a month earlier this year. But this has doubled, and he expects to shell out more than $1200 a month by the end of this month. “Maybe i have to raise my prices soon.”
The cost of eggs, during holiday seasons, can have a real impact on the
total profits of small businesses It is likely that there will soon be
no respite from rising egg prices, and a major supplier in Singapore
warns that exports may limit.
Malaysian Commerce and Local Consumption Minister Saifuddin Nassuth Ismail said the country was considering limiting or stopping the export of eggs. He said the measure is to ensure that the domestic market is sufficient.
“We will examine whether the export moratorium is reasonable, even if it is for a short period, if it helps reduce the price of eggs and benefits people, we will analyze it.”
He said there was a change in the average price of chicken eggs between the middle of last month and this month when it was rising every week in the retail market. Saifuddin said residents in Penang, Sarawak, and Putrajaya complained about reports of cartels’ activity among white suppliers, prompting prices to rise by mid-month.
He also said controls had carried out at the national
level in the stages of production, distribution, and wholesale to find
out why prices were so high. “If the traders will increase the price of
the eggs to get large profits, the ministry will not hesitate to take
action under the Law of Control of Prices and Control of Benefits of
2011,” he said.
Local egg farms, such as Singh Chun and Zu farm farms, provide 26 percent of the eggs consumed in Singapore. It imports the rest, or 74 percent, and Malaysian farms remain an important source of supply. Normal Singapore eats 308 eggs per year, according to statistics from the Agri-Food and Veterinary Authority last year.
The Chinese newspaper Xinmin Daily News reported earlier this month that the wholesale price of the egg rose from 10 cents in April to 16 cents this month. The report predicts that prices will continue to rise, as salmonella spreads on an egg farm in Yongping, Johor.
Before stopping agricultural exports, it exported 3 million eggs to Singapore or about 6 percent of the country’s total egg imports.
Malaysian Commerce and Local Consumption Minister Saifuddin Nassuth Ismail said the country was considering limiting or stopping the export of eggs. He said the measure is to ensure that the domestic market is sufficient.
“We will examine whether the export moratorium is reasonable, even if it is for a short period, if it helps reduce the price of eggs and benefits people, we will analyze it.”
He said there was a change in the average price of chicken eggs between the middle of last month and this month when it was rising every week in the retail market. Saifuddin said residents in Penang, Sarawak, and Putrajaya complained about reports of cartels’ activity among white suppliers, prompting prices to rise by mid-month.
Local egg farms, such as Singh Chun and Zu farm farms, provide 26 percent of the eggs consumed in Singapore. It imports the rest, or 74 percent, and Malaysian farms remain an important source of supply. Normal Singapore eats 308 eggs per year, according to statistics from the Agri-Food and Veterinary Authority last year.
The Chinese newspaper Xinmin Daily News reported earlier this month that the wholesale price of the egg rose from 10 cents in April to 16 cents this month. The report predicts that prices will continue to rise, as salmonella spreads on an egg farm in Yongping, Johor.
Before stopping agricultural exports, it exported 3 million eggs to Singapore or about 6 percent of the country’s total egg imports.
