Wednesday, June 19, 2024

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Malaysia is seeking to request that the primary rice suppliers of ASEAN give priority to member countries.


Malaysia plans to request that the primary rice suppliers in ASEAN give preference to member nations, in light of worries about increasing costs and inadequate supply. According to the state news agency Bernama, they will seek this action during a meeting in Kuala Lumpur.

Malaysia may hold talks with Thailand or Vietnam on rice supplies, Deputy Agriculture and Food Security Minister Chan Foong Hin said on Wednesday, as agriculture ministers from the Association of Southeast Asian Nations (ASEAN) gather in Kuala Lumpur this week.

During the bilateral meetings, we will bring up the issue of enhancing the relationship between our two countries and prioritize the export of rice to ASEAN nations, according to Mr. Chan.

India is the top exporter of rice in the world, followed by Thailand and Vietnam in second and third place.

Approximately 38% of Malaysia’s rice demand is met through imports, making it one of the nations impacted by export limitations enforced by producers such as India.

The Prime Minister, Anwar Ibrahim, issued a warning on Monday that legal action will be taken against those who are found to be hoarding rice. This is due to the increasing prices and limited supply which has caused consumers to store up on local grains.

In an effort to stabilize the cost and maintain an adequate amount of domestically grown white rice available in the market, Malaysia has declared subsidies and implemented various strategies. This was reported by Reuters.