Malaysia is initiating discussions with the Indian government to tackle the concerns arising from India's recent restrictions on rice exports. This move is prompted by Malaysia's struggle with soaring rice prices and supply issues due to limitations imposed not only by India but also by other nations.
In response to these challenges, Malaysia's state-run rice importer, Bernas, is actively exploring alternative suppliers. Among these options are countries like Vietnam, Thailand, and Cambodia. This diversification strategy aims to counter the impact of export restrictions and ensure a consistent rice supply, as outlined by Agriculture Minister Mohamad Sabu.
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To address the immediate shortage of rice, Malaysia is encouraging local rice millers to boost their monthly production by 20% for a year. This measure, according to Mohamad, is expected to alleviate the current scarcity of domestic rice within a month. Malaysia currently maintains a substantial rice stockpile of 900,000 metric tonnes, sufficient to meet the nation's rice needs for four to five months.
The ongoing surge in rice prices and disruptions in supply across Malaysia and other Asian countries can be attributed, in part, to adverse weather conditions impacting harvests. India, being a major rice exporter, has implemented these export restrictions to address inflation and ensure domestic food security.
Through diplomatic dialogues and a strategic diversification of suppliers, Malaysia is actively working to overcome the challenges posed by the evolving global rice market. The goal is to secure a stable food supply and effectively manage the rise in rice prices, ensuring the well-being of its citizens.
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