Rice Export : In a bid to tackle rising rice prices and supply shortages caused by India’s rice export restrictions, Malaysia’s agriculture minister, Mohamad Sabu, declared on Monday that Malaysia would initiate discussions with the Indian government to seek the “best solution” to this pressing issue. The move comes as countries across Asia grapple with reduced supplies and mounting concerns over food security.
Diplomacy and Diversification of Malaysia
State-run Malaysian rice importer Bernas will also play a pivotal role in addressing this crisis. Bernas is set to engage in negotiations with alternative rice suppliers such as Vietnam, Thailand, and Cambodia. This diversification of rice sources aims to alleviate the strain on Malaysia’s rice supply chain and cushion the impact of India’s export restrictions.
Regional Rice Crisis
Malay, like several other Asian nations, has been experiencing a double-edged sword of lower rice supplies and surging prices. The situation has been exacerbated by adverse weather conditions that have imperilled rice harvests. India, a leading rice exporter, implemented export restrictions as part of its strategy to combat inflation and ensure domestic food security.
Call to Increase Production
Mohamad Sabu revealed that Malaysia has urged local rice millers to ramp up their monthly production by an impressive 20% for the next year. This ambitious move is expected to boost domestic rice availability and help address the current shortages. Mohamad expressed optimism, assuring that Malaysia’s rice shortage predicament should be largely resolved within a month.
Adequate Stockpiles for Now
In terms of rice reserves, Malay currently boasts a stockpile of 900,000 metric tonnes. This quantity is sufficient to meet the nation’s rice demands for a period of four to five months, providing a temporary buffer against immediate supply shocks.
Also Read : Visa Waivers : Thailand Aims to Attract Indian Tourists