Malaysia

Let free market determine rice prices, break free from monopoly: Jeffrey

Sabah DCM urges national rice company to practice transparency over pricing mechanisms, stock levels

Updated 3 years ago · Published on 06 Sep 2023 2:26PM

Let free market determine rice prices, break free from monopoly: Jeffrey
Deputy Chief Minister Datuk Seri Jeffrey Kitingan urges the national rice company to practise transparency in its pricing mechanisms and stock levels. – SYEDA IMRAN/The Vibes file pic, September 6, 2023

KOTA KINABALU – It is time for consumers in Sabah to enjoy fairer prices for rice by allowing market forces to prevail over monopolistic control.

“I believe this change could stimulate competition and lead to more stable, and perhaps lower, rice prices,” Deputy Chief Minister Datuk Seri Jeffrey Kitingan said in a statement here today.

He made the call as concerns mount in households across Sabah over a 36% spike in the price of imported white rice announced recently by Padiberas Nasional.

Such a significant hike not only disrupts the stability of household budgets but also jeopardises the well-being of low-income families, said Jeffrey, who is also the state’s agriculture, fisheries and food industries minister.

Sabah requires “a tailored approach to the supply due to the unique geographical and social landscape.”

“The time has come to break free from the constraints of a single-entity monopoly that has long shaped our local market,” he said.

Jeffrey urged the national rice company to practise transparency in its pricing mechanisms and stock levels.

“The public deserves to know how prices are determined and what measures are being taken to stabilise the market,” he said.

Jeffrey said Bernas should also release their additional stocks from reserves. These are not just business assets.

“They are a public resource, especially in times of increased demand or market instability.”

Profit must not come at the expense of the people’s basic needs, as Bernas is dealing with an essential commodity, he said.

According to the Agriculture and Food Industry Ministry, Sabah imported 290,000 metric tonnes of rice, including reserves, in 2021 but produced only 22,000 metric tonnes locally.

Jeffrey revealed that his ministry has been working to reduce Sabah’s dependency on imported rice through various projects under the Sabah Maju Jaya (SMJ) initiative.

“Agriculture forms one of the three main pillars of the SMJ. We intend to increase Sabah’s self-sufficiency level for rice production to at least 60% by 2030,” he said.

This will be achieved through the Sabah Rice and Paddy Board that will assist farmers to increase paddy production.

Idle paddy fields will be rehabilitated and existing irrigation systems upgraded under this plan.

“These projects are expected to bring long-term benefits and protect Sabah from global rice price volatility.

“We’re not merely addressing the immediate crisis; we’re building a more resilient, self-sufficient Sabah,” he said. – The Vibes, September 6, 2023

Related News

Opinion / 17h

The Malaysia Agreement 1963: Grievances and expectations in Sabah and Sarawak

Malaysia / 5d

Budget 2027: Sabah, Sarawak to receive RM34.9b in federal allocations next year

Events / 1w

Sarawak and Sabah play key roles in weathering climate change

Malaysia / 2w

Address security concerns and let concert proceed – former Sabah CM

Malaysia / 4w

A message from our publisher and chairman

Malaysia / 1mth

Sabah leaders condemn priest and nun joke at UMNO PAU

Spotlight

Malaysia

Man kidnapped, tortured, and killed following misunderstanding

Malaysia

'I will never forget taxi drivers who backed me in my hardest times' - PM Anwar

Malaysia

Najib fails to secure stay of 15-year jail term, RM11.38b fine in 1MDB case

Malaysia

Ivana Smit’s mother considers Federal Court appeal after RM1.1m award overturned

Education

Schools in Negeri Sembilan, Melaka to reopen tomorrow as haze conditions improve

Malaysia

Zara Qairina inquest: Investigating officer says final findings showed no suspicious circumstances

Malaysia

Man jailed 8½ years for abusing three-year-old boy, forcing the child to eat faeces

World

Pope Leo XIV diagnosed with lung cancer after successful surgery

Malaysia

More than 3,000 Myanmar refugees set for repatriation after Malaysia secures breakthrough

You may be interested

Malaysia

PN loses bid to suspend RoS freeze, to face Oct 22 court hearing

Malaysia

Tun Mahathir’s health improves, but not ready to leave hospital

Malaysia

Zara Qairina inquest: Investigating officer says final findings showed no suspicious circumstances

Malaysia

Malay Rulers urge outsiders not to interfere in Negeri Sembilan crisis

Malaysia

Penang Exco: More effort needed to identify, treat mental health and depression cases

By Ian McIntyre

Malaysia

Twenty-one stations record unhealthy air as Zahid expects wind shift to ease haze

Malaysia

Foreign spouses do not automatically qualify as Bumiputera, says Saifuddin

By Alfian Z.M. Tahir

Malaysia

Anwar condemns global double standards over Palestinian suffering