Ministry committed to monitor factors behind goods price hikes — Nanta

TheEdge Fri, Nov 26, 2021 01:25am - 4 days View Original

KUALA LUMPUR (Nov 25): The Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) is constantly monitoring the prices of goods, especially those involving food and basic necessities, including Gardenia Bakeries (KL), which reportedly will increase prices of most of its products from Dec 1.

Its Minister, Datuk Seri Alexander Nanta Linggi, said that KPDNHEP would call the company on Friday to obtain information on the cause behind the increase in the price of some of its products.

“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 causes 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.

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 markets.

“KPDNHEP 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 Ministry 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.

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