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‘Wholesale price of imported white rice at RM160 per 50kg to control operating costs’ | Scoop
To help restaurant associations, food entrepreneurs, and hawkers manage operating costs and prevent rice price increases, the Agriculture Ministry has allowed them to buy imported white rice at RM160 per 50kg. – Azim Rahman/Scoop pic, September 28, 2023
News

‘Wholesale price of imported white rice at RM160 per 50kg to control operating costs’

Agriculture Ministry's move aims to maintain stability of local white rice supply by reducing commercial purchases from this group

Bernama
Updated
3:19 PM MYT

 

KUALA LUMPUR – The permission for restaurant associations, food entrepreneurs, and hawkers to purchase imported white rice (IWR) at the wholesale price of RM160 per 50kg is intended to assist them in controlling operating costs and preventing an increase in rice prices.

The Agriculture and Food Security Ministry said that this measure is also intended to stabilise the supply of local white rice (LWR) by decreasing business purchases from this group.

“In this matter, the ministry has taken the necessary steps to balance the demand for rice for business and household use during the current period of high LWR demand.

“This agreement was reached on September 15 during an engagement session between the ministry and restaurant associations, food operators, and hawkers,” the ministry said in a statement.

This follows a statement by Mydin Mohamed Holdings Bhd (Mydin) managing director Datuk Ameer Ali Mydin regarding the decision, which he feared would create a monopoly, and his proposal to raise the ceiling price for LWR to RM34 per 10kg, as reported by a news portal yesterday.

Regarding the proposal to increase the price of LWR, the ministry said that the price of LWR at the retail level is still controlled at RM2.60 per kg as per the Rice Act (Grade and Price Control) Order (Amendment No. 4) 2008 and the Control of Paddy and Rice Act 1994 (Act 522).

The ministry decided on September 24 to issue wholesale licences to restaurant owners so that they can purchase IWR from Bernas at a wholesale price of RM3.20 per kg. The various associations of restaurant owners will need to submit an application to the ministry in order to obtain a wholesale licence. – September 28, 2023

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