International Finance

Malaysia suspends chicken export amidst rising food prices, Singapore suffers

IFM_Malaysia poultry export ban
Maylasia has blocked the export of 3.6 million chickens

Malaysia has recently suspended exports of live chickens in order to ensure that there is no shortage of chickens in the country.

The Malaysian prime minister, Ismail Sabri Yaakob has announced that starting June 1 the country would block the export of 3.6 million chickens. This step is being taken to stabilize the food supply.

Due to this move, its neighboring country, Singapore has been put under stress as chicken rice is their national dish.

Singapore sources a third of its poultry from Malaysia. As soon as the consumers heard of this they rushed to stock up on fresh chicken. There were reports that several shelves in the frozen section were already cleared out.

In order to cope with this situation, the Singapore government has asked the consumers to switch to freezing chicken and other alternative meats. It is also looking for fresh markets to source fresh chicken.

Why has Malaysia suspended the export of Chicken?
Malaysia has banned the export of Chicken as the world is currently grappling with soaring food prices which the ongoing Ukraine-Russia war may have fueled. This measure has been taken to boost food supply and at the same time curb prices amid public anger.

Several small poultry farmers in Malaysia who used to supply chicken to Singapore have also been affected by introducing this step. They are now having issues with keeping their business alive.

The exact duration of this ban has not been mentioned. However, it is expected that it might take at least one month to normalize.

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