Malaysia Govt to discuss proposed rice price ceiling at RM1,500 per tonne
Malaysia’s Agriculture and Food Security Ministry is considering raising the ceiling price for rice to RM1,500 per tonne, up from the current RM1,300. Minister Datuk Seri Mohamad Sabu emphasized discussions with stakeholders, including the National Cost of Living Action Council, to ensure fair pricing for farmers. A nationwide rice price alignment is also under review, aiming for industry reforms and price stability.
KUALA LUMPUR: The Agriculture and Food Security Ministry is set to hold discussions with all relevant parties regarding the proposed ceiling price for rice at RM1,500 per tonne.
Minister Datuk Seri Mohamad Sabu said that the current minimum purchase price for rice was set at RM1,300 per metric tonne, a rate that would also apply in Sabah and Sarawak from Feb 15.
“To set the price at RM1,500, I am not a dictator. We need to engage in discussions with all stakeholders, including the National Cost of Living Action Council (Naccol) and others, as the government follows a structured system,” he said.
“The proposed price adjustment is a strategic move to protect the interests of rice farmers.
“However, price differences between states were a result of local market dynamics and business decisions,” he said in his winding-up speech on the 2025 Supply Bill at the Dewan Rakyat today.
In response to a question on whether the government plans to standardise rice prices nationwide, he said that the proposal was under consideration.
He said that a final decision would be made after a comprehensive study on aligning rice prices across the country.
“This study aims to stabilise rice prices nationwide and ensure fair income for farmers. It is part of ongoing reforms in the rice and paddy industry,” he added.
In another update, Mohamad said the ministry viewed the review of the ceiling price for local white rice as a crucial step for long-term resolution.
Although the proposal was still under detailed review, he said that the Malaysian Competition Commission (MyCC) had completed a general study on the padi and rice industry.
“This report will be presented at the upcoming Cabinet Committee meeting on the National Food Security Policy,” he said.
Mohamad said the ministry was committed to reviewing the findings and recommendations from the study, with the aim of implementing comprehensive reforms in the rice and padi industry.
He also said that the review would consider current production costs, future projections, and global trends in white rice prices.
Source Link : https://www.nst.com.my/news/nation/2024/11/1132981/govt-discuss-proposed-rice-price-ceiling-rm1500-tonne
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