| The prices of food items in the market place are exorbitant. Food is certainly the most important expenditure of households. Malaysians in the B40 group spent a total of 48 percent of their household expenditure on food. Certainly the poor will be more affected by high food prices as a greater percentage of their income is spent on basic food items.
For example, Malaysia is only 22 percent self-sufficient for beef and 39 percent self-sufficient for . When food is imported, prices would strongly be influenced by global factors, including monopolistic practises as well as climate change effects in food-producing countries. This could easily affect the price of food in Malaysia.
For example in the fish supply chain, middlemen are known to hoard fish when prices are low, thus restricting supply and forcing the prices of fish to increase. There is also opaqueness in price determinations along the supply chain. MyCC has also suggested the establishment of new wholesale markets to promote competition through greater transparency and market competition through the removal of market inefficiencies.
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