Anwar, who is also finance minister, said the market and wholesale prices of both chicken and eggs are still low in the peninsula while the prices of both goods in Thailand are even lower than in Malaysia.

“If there is a reduction in supplies, we can top up with the 30% stock of chicken and eggs from the agriculture and food security ministry. I have been told by the minister that (Malaysia) would then boost supply with stock from Thailand in order to prevent any price hike.

“These are the guarantees that we can give. Why are we doing this (price floating) now? It is because of the lower prices and increase in supply, as well as the 30% stock under the ministry, and the much lower prices in Thailand,” he told the Dewan Rakyat.

He was responding to Rosol Wahid (PN-Hulu Terengganu), who asked Putrajaya to guarantee that the decision to float the prices of chicken and eggs would not burden the people, who are already facing an increase in the cost of living.

According to Anwar, since last year Putrajaya spent RM3.7 billion in subsidising the prices of chicken and eggs.

Anwar said government subsidies also benefitted the wealthy as well as the 3.5 million foreigners in the country.

He added that the government decided to float the prices of the two food items after considering the current market price, which is less than the ceiling price.

Last Friday, Anwar announced in his 2024 budget speech that temporary ceiling prices for chicken and eggs will be waived in order to allow room for the market to freely manoeuvre in ensuring uninterrupted supply.

The news was met by angry comments from Malaysians online, who felt that Putrajaya’s move would see a hike in the prices of chicken and eggs and add to their financial burden.