Malaysia Govt allocates RM150m subsidy to rice manufacturers after paddy price adjustment
The Malaysian government has allocated RM150 million in subsidies to rice manufacturers to offset the impact of the newly adjusted paddy floor price. Prime Minister Anwar Ibrahim emphasized maintaining the local white rice price at RM2.60 per kg. Additionally, Bernas chairman Syed Mokhtar Al-Bukhary pledged RM30 million to support farmers. The new paddy floor price of RM1,500 per metric tonne takes effect on Feb 16.
THE government has allocated RM150 million in subsidies to rice manufacturers following the newly adjusted paddy floor price, said Prime Minister Datuk Seri Anwar Ibrahim.
Anwar said that the allocation is to ensure that the newly adjusted price would not affect the people.
This move, he said, would ensure the maximum selling price of local white rice remains RM2.60 per kg.
“This is the second paddy floor price adjustment implemented by the Madani Government within two years, in efforts to increase the rice farmers’ income.
“In 2023, the government had announced the first price adjustment, after nearly 10 years of the floor price of rice purchase remaining at RM1,200.
“Efforts to help rice farmers became one of my first agendas when I was entrusted to lead the country,” he said in a statement today.
Anwar expressed his appreciation to Padiberas Nasional Bhd (Bernas), owned by Tan Sri Syed Mokhtar Al-Bukhary, for cooperating with the government to ensure the rice farmers’ welfare is protected.
“I have also contacted Tan Sri Syed Mokhtar Al-Bukhary, (and) alhamdulillah (praise to God), he has agreed to allocate an additional RM30 million to support the government’s efforts to defend the plight of the rice farmers.
“InshaAllah (God’s willing), this allocation will be distributed to the farmers in the near future,” he said.
Previously, Bernas had distributed RM60 million to rice farmers.
This allocation is announced following Agriculture and Food Security Minister Datuk Seri Mohamad Sabu’s earlier announcement that the paddy floor price has been standardised from RM1,300 to RM1,500 per metric tonne starting Feb 16.
Earlier, Mohamad said that the paddy floor price adjustment includes considerations of increased labour costs and agricultural inputs.
He also said that the ministry is finalising talks with the Domestic Trade and Cost of Living Ministry and the Finance Ministry to expand eligibility for diesel subsidies under the Budi Madani Programme.
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Source : The Malaysian Reserve
