Malaysians urged to keep calm as rice prices spike, avoid hoarding: ‘don’t panic buy’

Mohamad said Malaysia’s locally produced rice is capped at 2.60 ringgit per kilogram, the cheapest in the region. So when sole importer Padiberas Nasional Berhad raised the price of imported white rice by 36 per cent on September 1, it prompted many Malaysians to switch from imported rice to cheaper local rice.

Malaysia, a country of more than 32 million people, imports about 38 per cent of its rice needs and held talks with India last week on lifting export restrictions.

“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 the issue.

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“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. The agricultural and food security ministry said it would provide a subsidy of 950 ringgit (US$202) per tonne for imported white rice in the states of Sabah and Sarawak from October 5.

From Tuesday, authorities will step up surveillance of rice wholesalers and shops to ensure there is no hoarding of local rice, Mohamad said.

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 on Wednesday. He said the rice crisis and food security will be discussed at their meeting.

Additional reporting by Reuters