Malaysia is gearing up for discussions with the Indian government to address concerns related to recent restrictions on rice exports from India, according to a report by Reuters news agency. This move comes as Malaysia grapples with increasing rice prices and supply issues due to restrictions imposed by India and other nations.
Malaysia's state-run rice importer, Bernas, is actively exploring alternative rice suppliers, including countries like Vietnam, Thailand, and Cambodia. This diversification is part of their strategy to mitigate the impact of these export restrictions, as highlighted by Agriculture Minister Mohamad Sabu.
The ongoing surge in rice prices and supply disruptions across Malaysia and other Asian nations can be partially attributed to adverse weather conditions affecting rice harvests. India, being a prominent rice exporter, has enforced these export restrictions to combat inflation and ensure domestic food security.
To address the immediate rice shortage, Malaysia has encouraged local rice millers to increase their monthly production by 20% over the course of a year. Mohamad anticipates that this measure will help alleviate the current domestic rice scarcity within a month.
At present, Malaysia maintains a substantial rice stockpile of 900,000 metric tonnes, which is adequate to meet the country's rice requirements for a period spanning four to five months, as confirmed by Mohamad Sabu.
Through diplomatic negotiations and diversifying its supplier network, Malaysia is proactively addressing the challenges posed by the evolving global rice market. This approach aims to ensure a stable food supply and effective management of rising rice prices in the country.
