The Malaysian government has raised the floor price for paddy purchases to RM1,500 per metric ton from RM1,300, effective February 16, 2023. This decision aims to address the rising costs of labor and agricultural inputs, such as fertilizers and pesticides, while ensuring the availability of local rice supplies.
The floor price of paddy purchases will be adjusted from RM1,300 to RM1,500 per metric ton effective this Sunday (February 16). Minister of Agriculture and Food Security Datuk Seri Mohamad Sabu said this takes into account the increase in labor costs and agricultural input costs such as fertilizers and pesticides, as well as the impact on the production cost of rice, which subsequently affects the price of rice in the market.
He also informed that the price of local white rice has been kept at RM2.60 per kilogram (kg) with the government absorbing part of the production cost of around RM150 million for a period of six months. “This is to ensure the availability of local white rice supply of about 24 million bags of 10 kg in the market. “In this regard, the ministry is currently finalizing the implementation method and it will be announced after the details are finalized in the near future,” he said during a ministerial briefing on the current situation of the padi and rice industry in the country at the Dewan Rakyat today. Mohamad also informed that the ministry is currently in talks with Padiberas Nasional Berhad (Bernas) to review the new import white rice price adjustment, which is currently at RM2,800 per metric ton. “This will enable consumers to obtain imported rice supplies at a lower price, thus helping to reduce the cost of living for the people,” he said. He said the ministry is also in the process of finalizing negotiations with the Ministry of Domestic Trade and Cost of Living and the Ministry of Finance to enable service providers in the padi and rice industry to receive diesel subsidy assistance under the Program Budi MADANI. Commenting on the comprehensive reform efforts in the padi and rice industry to enhance industry competitiveness, Mohamad said his side is currently reviewing the entire Paddy and Rice Control Act 1994 (Act 522) to align with the reform processes being implemented by the ministry. “Last Friday, the government also agreed to the proposal to establish the Malaysian Agricultural Food Regulatory and Enforcement Agency aimed at strengthening the supervisory and enforcement aspects of the agricultural ecosystem, including the padi and rice industry,” he said. Touching on the welfare of 230,119 farmers who are the backbone of rice production in the country, Mohamad said the government is always concerned about this group who face various challenges such as rising production costs, threats from climate change, pest attacks, diseases, shortage of local white rice supply, and weaknesses in irrigation infrastructure. “Generally, the input subsidy assistance given to farmers in our country is the largest compared to other ASEAN countries,” he said. Meanwhile, at a press conference at Parliament, Mohamad said the announcement of the paddy purchase floor price adjustment was made after considering the interests of all parties involved, including farmers, manufacturers, and consumers. “We cannot raise it directly to RM1,800 (which is requested by farmers), how about the price of rice, now the government has to intervene (absorb subsidies), that's why this decision was made to balance the interests of all. “However, this is for a period of six months from now, there is a process for us to look at for the next six months. We are open to receiving views and are ready to meet any party concerned about this matter,” he said
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