Many poultry farms in Malaysia have cut down on its chicken export supply due to the country's lockdown.
Even as the Malaysian government has gradually loosened the restriction measures, the supply has yet to recover fully and this has resulted in an imbalance in the supply and demand, causing import prices in Singapore to increase, Shin Min Daily News reported.
According to The Poultry Merchants' Association Singapore, the price of one fresh chicken costs about RM3.70 (about S$1.20) two weeks ago.
But it has now increased to RM5.60 (about S$1.80).
This excludes other additional costs such as transport cost and custom fee.
However, the local importers have not yet passed on the increased costs to retailers.
The importers might raise their selling prices as well if the import prices continue to be high.
One importer also shared that nearing Hari Raya Puasa, the domestic demand is also higher in Malaysia during this period and this might have contributed to the upward adjustment in prices as well.
A few chicken rice sellers interviewed also said that they will not be increasing the price of chicken rice for now and hope this import price surge is temporary.
Singapore also imports frozen chickens from Brazil and the U.S. and the import prices remain stable for now.
Top photo via Mechie Choa Yu/Flickr