Malaysia : Govt Urges Reduction Of Corn, Soy, And Rice Imports To Combat Rising Global Prices
Malaysia urged importers to reduce corn, soy, and rice imports to limit exposure to rising global prices and imported inflation. The government aims to strengthen domestic agriculture, lower economic vulnerability, and support local food production amid ongoing global supply uncertainties.
The Ministry of Agriculture and Food Security has issued an urgent call to national food importers to scale back the importation of core commodities—specifically corn, soy, and rice—in a bid to shield the national economy from volatile global price surges.
Minister Datuk Seri Mohamad Sabu emphasized that the move is a strategic necessity to manage national expenditure and reduce the country’s vulnerability to external economic shocks.
The Minister noted that the rising costs of these three critical commodities on the global market are beginning to have a significant impact on domestic spending. As the “Global Supply Crisis” continues to fluctuate, the reliance on overseas sources for animal feed (corn and soy) and the nation’s primary staple (rice) has led to “imported inflation,” driving up the cost of living for the rakyat.
The urge to cut imports is coupled with a broader government push to revitalize Malaysia’s domestic agricultural output. By reducing the inflow of foreign goods, the Ministry aims to create a stronger market for local producers.
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Source : Business Today
