FIVE companies were fined a total of RM415 million for forming a “chicken cartel” to fix prices, the Malaysia Competition Commission (MyCC) said.

MyCC CEO Iskandar Ismail said the firms were alleged to have banded together to raise the price of poultry feed, which had led to higher chicken prices.

Investigations revealed the five companies, the country’s biggest chicken feed producers, violated the Competition Act 2010 by having an agreement between them with the goal or effect of “preventing, restricting or distorting competition” in any market for goods or services.

The five companies are Dindings Poultry Development Centre Sdn Bhd, FFM Bhd, Gold Coin Feedmills (Malaysia) Sdn Bhd, Leong Hup Feedmill Malaysia Sdn Bhd, and PK Agro-Industrial Products (M) Sdn Bhd.

“We have issued a final decision against the five companies for breaching Section 4 of the Act through the formation of a chicken feed pricing cartel.

“Cartels are the supreme evil in competition law. We acted decisively to tackle issues like this.

“It is an economic sabotage against all consumers,” Iskandar said. – December 23, 2023.