Global Supply Crisis: Govt Focuses On Essential Goods Supply, Price Stability

KUALA LUMPUR, June 29 (Bernama) -- The government is placing special emphasis on safeguarding the supply of essential goods, keeping the prices of basic necessities under control and improving distribution efficiency to ease the impact of rising costs on the people.

Economy Minister Akmal Nasrullah Mohd Nasir said rising logistics and agricultural input costs in the food sector are exerting pressure on consumer goods prices, as 63 per cent of the country’s fertiliser needs rely on imported sources.

“Based on current assessments, fertiliser costs are projected to rise by between 15 and 20 per cent, while livestock feed costs are expected to increase by around eight per cent,” he said during a ministerial briefing on the global supply crisis in the Dewan Rakyat today.

To ensure stability in supply and prices, Akmal Nasrullah said the government is implementing daily monitoring of the supply and prices of essential goods.

He said coordination has also been made with Petroliam Nasional Berhad (Petronas) and industry players to monitor stock levels and implement contingency measures to ensure consumer needs and the wider economy are not affected, while maintaining stability in the country’s energy supply.

“The government has so far ensured adequate fuel supply until August 2026 and is working to guarantee continued supply. This is important to ensure that the people’s daily activities, public transport, logistics, businesses and critical sectors remain operational,” he said.

Akmal Nasrullah said the country's rice supply, including buffer stocks, remains under control and is sufficient for a period of five to six months, while basic food supplies such as chicken, eggs, fish and fruit are adequate for at least one month.

He said that in addition, the Ministry of Domestic Trade and Cost of Living (KPDN) will continue to monitor 316 essential items at more than 2,000 retail premises nationwide, while enforcement against profiteering and smuggling will also be strengthened to ensure global pressures are not exploited GOVT FOCUSES ON SECURING ESSENTIAL GOODS SUPPLY,to raise prices unreasonably.

Akmal Nasrullah said the government is also closely monitoring employment risks, noting that labour force participation has remained stable so far despite a slight increase in the unemployment rate from 2.9 per cent in April 2026 to 3.0 per cent in May 2026.

He said that pressure on the labour market was driven not only by rising prices, but also by slower global demand, weaker export markets and increased pressure on business operations.

Akmal Nasrullah said the government is adopting a realistic approach, taking into account that recovery from the global supply crisis will take time.

He said that while crude oil prices have moderated from previous highs, the effects on logistics costs, refined fuel supplies, agricultural inputs and commodity prices will take time to stabilise.

“In conclusion, the government does not deny that the global supply crisis poses a major risk if it continues. This risk is being managed in an orderly, prudent and data-based manner.

“The crisis will continue to be monitored through the National Economic Action Council (MTEN) and relevant agencies. Information will be shared with the public as needed to ensure clear, accurate and current updates for all parties,” he said.

He added that efforts to address the impact of the crisis require the cooperation of all parties to lessen its effect on the economy and the people.

--BERNAMA