Current:Home > StocksMalaysians urged not to panic-buy local rice after import prices for the staple rise substantially -AssetTrainer
Malaysians urged not to panic-buy local rice after import prices for the staple rise substantially
View
Date:2025-04-17 18:09:02
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.
“Actually, we don’t have a shortage of rice in the country. It’s just that the price of imported rice has risen sharply. ... Many people have shifted to buying cheaper local rice,” he said, adding that the government is taking steps to address this issue.
“I want to remind the people again to keep calm and just buy what you need. Don’t panic-buy.”
Mohamad said the government will increase distribution of local rice to rural areas. He said the government will also subsidize the price of imported rice to two poorer states on Borneo island to ensure adequate supply. From Tuesday, he said, authorities will step up surveillance of rice wholesalers and shops to ensure there is no hoarding of local rice.
He said samples will also be taken to ensure that sellers are not repackaging local rice as imported rice or mixing the grains for higher profits, warning that stern action will be taken against anyone found to be doing so.
Mohamad’s press conference was held ahead of this week’s meeting of Southeast Asian agriculture and forestry ministers that begins Wednesday. He said the rice crisis and food security will be discussed at their meeting. The minister of the 10-member bloc, known as the Association of Southeast Asian Nations, will also meet their counterparts from China, Japan and South Korea.
veryGood! (58)
Related
- A South Texas lawmaker’s 15
- Campus anti-war protesters dig in from New York to California as universities and police take action
- We're not the sex police: Here's what intimacy coordinators actually do on film and TV sets
- Jayden Daniels says pre-draft Topgolf outing with Washington Commanders 'was awesome'
- Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
- Woman after woman told her story, but the rape conviction didn't stand. Here's why.
- New EPA Rule Could Accelerate Cleanup of Coal Ash Dumps
- As border debate shifts right, Sen. Alex Padilla emerges as persistent counterforce for immigrants
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- Jax Taylor and Brittany Cartwright Reunite at 2024 White House Correspondents' Dinner
Ranking
- Tom Holland's New Venture Revealed
- The Daily Money: Why internet speed is important
- Student anti-war protesters dig in as faculties condemn university leadership over calling police
- 20 Cambodian soldiers killed in ammunition explosion at a military base
- A White House order claims to end 'censorship.' What does that mean?
- Tennessee lawmakers adjourn after finalizing $1.9B tax cut and refund for businesses
- Prom night flashback: See your fave celebrities in dresses, suits before they were famous
- Planned Parenthood announces $10 million voter campaign in North Carolina for 2024 election
Recommendation
Woman dies after Singapore family of 3 gets into accident in Taiwan
Harvey Weinstein hospitalized ahead of New York court appearance
A suspect is in custody after 5 people were shot outside a club in the nation’s capital, police say
Living with a criminal record: When does the sentence end? | The Excerpt
Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
NFL draft's best host yet? Detroit raised the bar in 2024
Sean ‘Diddy’ Combs files motion to dismiss some claims in a sexual assault lawsuit
Eagles draft Jeremiah Trotter Jr., son of Philadelphia's Pro Bowl linebacker