Price of raw ingredients have not gone down, says Mydin

SHAH ALAM - Wholesaler Mydin's Datuk Dr Ameer Ali Mydin says price of basic ingredients used by food traders remain the same, stating there is no decrease in cost since 2020.

The managing director said price of raw materials has gone up between 10 to 15 per cent during the same period.

"Chicken prices has not decreased. Eggs, there is not enough supply. Price of meat has been increasing for some time. Prices of sugar and flour remains the same but it did not decrease," he added.

Recently, Economy Minister Rafizi Ramli urged restaurant and stall operators to check the selling price of their food and it should be parallel to the price of raw materials as the cost has declined.

But Ameer said he is not sure over Rafizi's statement as prices remain the same.

"The minister needs to give details of price drop," he said while adding, the price of cooking oil in the market is still the same.

As for the price of raw materials such as vegetables, he said the price fluctuates depending on the level of supply and weather.

Ameer further said price of several food items and branded foreign goods are expected to increase by 5 per cent starting next month.

He further said the retail business sector is now faced with increased operating costs due to withdrawal of electricity tariff subsidies, the implementation of the Employment Act 1955 (Amendment) 2022 relating to overtime payment for workers earning RM4,000 and below, and lack of manpower.