<figure id="attachment_2885513" aria-describedby="caption-attachment-2885513" style="width: 1600px" class="wp-caption aligncenter"><img loading="lazy" class="wp-image-2885513 size-full" src="https://media.freemalaysiatoday.com/wp-content/uploads/2024/10/8a9ee0d0-telur-market-bernama-pic-091024.webp" alt="" width="1600" height="1000" /><figcaption id="caption-attachment-2885513" class="wp-caption-text">Agriculture and food security minister Mohamad Sabu said the supply of chicken eggs is currently stable and that prices remain reasonable. (Bernama pic)</figcaption></figure>
KUALA LUMPUR: The government is estimated to have saved RM45 million a month following the reduction of egg subsidies which took effect on May 1, said agriculture and food security minister Mohamad Sabu.
He told the Dewan Rakyat that the subsidy cut would result in savings of up to RM135 million over a three-month period before the full termination of the subsidy on Aug 1.
He was responding to a question from Sheikh Puzi Sheikh Ali (BN-Pekan) about the savings from the reduced subsidy spending and its impact on the egg market and overall cost of living.
Mohamad, known as Mat Sabu, said the supply of chicken eggs was stable and that prices remained reasonable.
In July alone, egg production is expected to reach 1.75 billion eggs, while domestic consumption is estimated at 1.06 billion, he said.
&#8220;This indicates a surplus of 0.69 billion eggs, some of which will be exported,&#8221; he added.
Mohamad said that to ensure continued stability in egg supply and pricing, his ministry, together with the domestic trade and cost of living ministry, would closely monitor the situation.
He added that the savings from the reduced subsidy spending would allow the government to redirect funds towards initiatives and programmes that provide direct benefits for the people.
In April, the agriculture and food security ministry announced its decision to end the subsidy after industry players committed to ensuring a stable and sufficient egg supply, following the stabilisation of production costs.
In June 2024, Prime Minister Anwar Ibrahim said the government had decided to reduce the retail price of grade A, B and C eggs nationwide by three sen. This subsidy scheme involved an expenditure of RM100 million.
The government initially planned to float egg prices in July 2023, but postponed the move due to concerns about potential price increases and the impact on consumers.

MatchPoint Times

RM45mil monthly savings since egg subsidy slashed, says minister

Agriculture and food security minister Mohamad Sabu says the subsidy cut will result in total savings of up to RM135 million by the end of the month.

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