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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After Russia’s invasion of Ukraine several sunflower oil shipments had got disrupted and on top of that Indonesia’s prohibition on palm oil exports had further constrained global supplies. Malaysia, the world’s second-largest palm oil producer, is trying to increase its share of the edible oil market.

In order to assure the local supply of cooking oil, top producer Indonesia said it would withdraw the embargo on May 23 and instead apply a domestic market sales requirement.

In a conversation with Reuters, Minister Zuraida Kamaruddin stated that she has requested the Finance Ministry, which has set up a committee to look into the details, that tax be reduced to 4%-6% from the current 8%.

She stated that they are anticipating that the Malaysian exporters would be clear winners in the short term because the worldwide purchasers will source for Malaysian palm oil.

She further added that the ministry will continue to loosely monitor the situation of Indonesia’s policy changes.

Lastly, she added that because of an impending increase in production, crude palm oil prices are expected to reduce, but prices will remain high until mid-2023 due to restricted global supply and Chinese demand.

On the other hand, a key palm oil exporter, China has assured that it will soon be increasing its demand for palm oil later in 2022 as it will gradually open its economy once the pandemic gets subdued.

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Knoops, a brand that serves single-origin hot chocolate from around the globe that is leading this undercurrent, has more than 20 variants of its hot chocolate. Its menu is categorized with the cocoa strength, sweetness, and cream content ranging from 100% dark to a creamier and sweeter beverage.

Not only that, the company has spent hours perfecting the taste of its concoctions by mixing different kinds of milk including soy and other plant-based ingredients. The company said more than half of its offerings were fit for vegans.

In an interaction with The Guardian, Knoop founder Jens Knoop said that its customers are voicing their fatigue with coffee and hot chocolate is filling the gap of ‘next level’. The company says their patrons who are in an advanced stage of exploration have the option to add 20 more herd or spice additives to their drink.

Food analysts have noted that more time spent at home due to the two waves of the pandemic has also contributed to this transition. This has led to an increase in sales of hot chocolate equipment.

Hot Chocolate, a leading market leader in the hot chocolate-making equipment segment, is reportedly counting on this market trend to make its new stores larger than its existing stores. The Evening Standard recently quoted the company’s CEO Angus Thirlwell saying that their Velvetiser is seeing record sales and they are looking at ways to make their customers sample new flavours. The company said that in the last six months alone, four of its stores were expanded as cafes to capitalize on the emerging trend.

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