Ministry of Agriculture and Food Security said it is implementing intervention measures to increase the supply of local white rice in the market in view of recent reports that there are shortages in certain locations.
Among the steps taken is the increase of 20% of supply the Ministry has requested manufacturers and rice wholesalers through the Local White Rice Special Program into the market. Through engagement sessions, rice manufacturers have agreed to give an additional 20% of their rice quota to the Government through BERNAS it said.
The Ministry believes through the intervention step, the market supply will recover within the near future notabl the price of BPT has also remained at the control price of RM2.60/kg since 2008 and it is the lowest price in the region it said. More discussion will be held to ensure supply is sufficient to address the demands of the population hence the MAFS will bring the topic up before the Budget 2024 tabling with stakeholders and industry players.
At the same time, MAFS has warned on those hoarding or simply price manipulating if the authority finds that any party fails to comply with the legislation of the Paddy and Rice Control Act 1994 the Director General of the Rice and Rice Regulatory Authority reserves the right to cancel or suspend every license that has been issued.
