Malaysians urged not to panic-buy local rice after import prices for the staple rise substantially
Malaysia’s government says there is sufficient rice in the market despite recent panic-buying of locally produced rice that led to empty shelves in supermarkets and grocery stores nationwide
KUALA LUMPUR, Malaysia (AP) — Malaysia's government on Monday reassured the country there is sufficient rice in the market and urged people not to hoard locally produced rice after recent panic-buying led to empty shelves in supermarkets and grocery stores nationwide.
Agriculture and Food Security Minister Mohamad Sabu said the government will increase distribution to rural areas to address a supply issue sparked by a hike in the price of imported rice. Malaysia and many countries are grappling with rising rice prices and low supplies after India's curb on rice sales cut global supplies by a fifth.
Mohamad said Malaysia's locally produced rice is capped at 2.60 ringgit ($0.55) per kilogram (2.2 pounds), the cheapest in the region. So when sole importer Padiberas Nasional Berhad raised the price of imported white rice by 36% on Sept. 1, it prompted many Malaysians to switch from imported rice to cheaper local rice.
He said the higher price of imported rice cannot be helped after after 19 countries, including India, restricted rice exports to cater for domestic needs. Malaysia imports about a third of its rice supply.
