KEPALA BATAS – The agricultural authorities have urged consumers to be smart by refraining from panic buying as they would be aggravating the temporary shortage of rice, especially since there is no real shortfall of supply at all.
By month’s end, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu believes the supply and demand would be stable despite misgivings by some quarters over the rise of imported rice prices, with some consumers saying it is of superior quality.
The minister, who is better known as Mat Sabu, said the relevant authorities under the food security division are ramping up production of local rice to meet the demand following an outcry from consumers that imported rice is now costing up to 36% more.
As consumers flock to the cheaper local rice variant, it has caused a shortage.
Some food traders are reportedly also dropping their Rahmah (budget menu) of not more than RM5 because of the need to purchase imported rice due to the shortage of local rice.
Mat Sabu said the spike in imported rice prices is a global phenomenon due to the supply chain disruptions where neighbours such as Indonesia have reported similar shortages.
“Just do not engage in panic buying. There is adequate rice in the market. There are only pocket areas which are experiencing low supply. The rest have options whether to buy imported rice at elevated prices or opt for locally produced rice.”
Mat Sabu said that to prevent hoarding by unethical wholesalers, the ministry will work closely with the Domestic Trade and Living Costs Ministry’s enforcement division to ensure there is no profiteering going around.
“After all, local rice is a controlled item. We need to be smart consumers here.”
It was reported that in 2022, the import volume of rice in Malaysia amounted to approximately 1.24 million metric tonnes, a slight increase compared to more than 1.16 million metric tonnes in the previous year.
The Federal Agriculture Marketing Authority (Fama) will also be offering special sales at its branches throughout the country to help overcome the shortage.
There is also a special sales campaign of local rice, involving various retailers and wholesalers, under the purview of the ministry.
Mat Sabu said through the ministry’s monitoring, the current situation has not come to an emergency level that would require tapping from the rice stockpile.
“We have rice stockpile to last for four to five months, but there is no urgent need to utilise the 250 tonnes metric stockpile that we have for four to five months domestic need,” he said.
Earlier, the sole licensed importer Padiberas Nasional Bhd (Bernas) announced that imported white rice now costs RM3,200 a tonne from RM2,350 a tonne, up by 36%. – The Vibes, September 20, 2023
