CEO Morning Brief

Govt to Introduce Madani White Rice, Available Starting March 1

edgeinvest
Publish date: Thu, 15 Feb 2024, 12:29 PM
edgeinvest
0 23,762
TheEdge CEO Morning Brief

PUCHONG (Feb 14): The government will introduce the Malaysia Madani white rice priced at RM30 for a 10kg sack next Monday, which is expected to be available in the market starting from March 1.

Chairman of the task force (food cluster) under the National Action Council for Cost of Living (Naccol) Datuk Syed Abu Hussin Hafiz Syed Abdul Faisal said this means there will no longer be local white rice (SST) and imported white rice (SSI) categories, adding that the Malaysia Madani white rice will be the sole category.

The Bukit Gantang member of Parliament said between Feb 19 and March 1, rice industry players can make adjustments and sell rice in their old packaging until all wholesalers' stocks have been sold out.

"What we are doing here is to offer a more comfortable price for the people. This adjustment is made by the industry to provide appropriate pricing… and availability in the market for all.

"Besides that, the price for a 5kg sack of Malaysia Madani white rice is set at RM15.50 while a 1kg bag of rice is priced at RM3.50," he told reporters here on Wednesday.

Syed Abu Hussin Hafiz said industry players must change the labelling and packaging of rice sacks according to the new regulations by March 1, adding that the government will allow them to use the old packaging, but it must be affixed with the Malaysia Madani white rice price sticker as prescribed.

“…rice prices have not increased for 18 years… paddy farmers and growers will be more comfortable with the (new) ceiling price… and the industry can also sustain with the RM30 price for a 10kg sack,” he said.

Earlier, he said Prime Minister Datuk Seri Anwar Ibrahim approved the introduction of the Malaysia Madani white rice.

Meanwhile, he said the setting of a ceiling price for the Malaysia Madani white rice serves as a mechanism to stop local white rice manipulation, where some rice manufacturers would mix local white rice with imported white rice and sell them as expensive rice brands to gain extra profit.

“It stems from the absence of price controls for imported white rice supplies, causing prices to remain high, coupled with a rise in the global rice prices,” he said.

“This has resulted in local white rice labels being changed to imported white rice… making it difficult to find in the market,” he added.

The retail price for local white rice is RM2.50 per kg as stipulated under the Control of Paddy and Rice Act 1994 (Act 522).

Source: TheEdge - 15 Feb 2024

Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment