Fresh chicken snapped up at S'pore wet markets, supermarkets after Malaysia announces export ban SINGAPORE - Several wet markets and supermarkets saw their shelves cleared of fresh chicken on Wednesday morning (May 25) as consumers flocked to stock up on the meat. The increased demand comes on the back of Malaysia announcing that it will halt the export of up to 3.6 million chickens a month from June 1. Consumers who had missed the early rush for chickens at wet markets and supermarkets did not seem fazed by the lack of them on shelves. But they anticipate that the price of frozen chicken will rise in the coming weeks. "If there was stock, I would have probably bought one or two more chickens," said Ms Nicole Chia, 46, a salesperson shopping at FairPrice in Bedok Central. "I was not surprised when I saw that fresh chicken was sold out... but I am not too worried as I can turn to frozen chicken or other types of meat." In a Facebook post on Wednesday, major poultry producer Kee Song Group said it is rushing to fulfil orders in the light of high demand. The Facebook post added: "Our entire company is on 24 hours' shift to raise our production volume in the coming days to meet our customers' demand."

Qs. If a 5% rise in average income causes the demand for fresh chicken to rise by 3% and the demand for frozen chicken to fall by 2%, calculate the income elasticity of demand for fresh chicken and frozen chicken. (2 marks)