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Prices to Fall for New Year

by 5m Editor
2 January 2009, at 9:33am

MALAYSIA - Chicken is expected to become cheaper for Chinese New Year due to oversupply.

Consumers can expect chicken to be sold at 6.50 to 7.50 ringgit (MYR) per kilo right up to the Chinese New Year celebration, according to The Star of Malaysia.

Selangor and Federal Territory Poultry Wholesalers Association chief, Datuk Dr Lee Chong Meng, believes there would not be a sharp increase in price as the celebration drew nearer because there was a glut in the market.

"There is a 10 to 15 per cent glut because there has been a drop in demand from restaurants, hawkers and consumers.

"Those in the food industry expected a brisk business during the Christmas and New Year celebrations but that did not happen," he said.

Prices of chicken have dropped by 20% and are selling at MYR 6-7 per kilo in markets.

A check by The Star at the markets here showed poultry sellers have reduced the retail price of dressed chicken MYR 0.80-1.50 in the past week.

A poultry seller at Taman Paramount market said he was retailing dressed chicken without shank, head, liver and gizzard at MYR 6.70 per kilo, down from MYR 7.50 previously.

He added that he is now paying MYR 3.90 per kilo for the price of live chicken. Previously, he was paying MYR 4.40 per kilo.