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March 29, 2024 -Friday

 
  MyCC INVESTIGATES PRICE HIKE OF CHICKEN EGGS

Thursday 13/12/2018



KUALA LUMPUR, Dec 13 (Bernama) -- The Malaysia Competition Commission (MyCC) would like to confirm that it is working closely with the Ministry of Domestic Trade and Consumer Affairs (MDTCA) to identify any anti-competitive elements that may occur in the domestic market for chicken eggs.
 
Aside from anti-profiteering issues that may have contributed to the rising price of chicken eggs, the Commission is looking into the possibility of anti-competitive behaviour amongst market players such as the existence of price-fixing cartels, market sharing and deliberate limiting of production by certain parties. The Commission will take into consideration the daily price and the number of production of chicken eggs in assessing the matter. 
 
In addition, the Commission will also take a thorough look at the export of chicken eggs to foreign markets which has increased lately.
 
"The Commission will use all its powers under the Competition Act 2010 in working closely with the relevant stakeholders and will not hesitate to take stern action against any companies involved in any type of cartel activities so as to ensure the welfare and interest of consumers in Malaysia is protected" said Iskandar Ismail, Chief Executive Officer of the Malaysia Competition Commission.

About Malaysia Competition Commission (MyCC)
 
Established in April 2011, MyCC is an independent body responsible for enforcing the Competition Act 2010, which was implemented to create healthy competition which would, in turn, stimulate productivity and innovation, thus creating wider choices of products for consumers with better quality and reasonable prices.
 
The Act applies to all commercial activities undertaken within and outside Malaysia that affect competition in the Malaysian market. It provides a regulatory framework including powers to investigate, adjudicate and impose penalties on the perpetrators of the competition laws. 
 
For more information on the Act and the MyCC’s activities, you can log on to www.mycc.gov.my.

Source : Malaysia Competition Commission (MyCC)

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Noorliza Abdul Latiff
Communications and Advocacy Division ​
Tel: +603 2273 2277 (ext 111)
Email: noorliza@mycc.gov.my

--BERNAMA

 
 
 

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