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[UPDATED] Govt raises floor price for padi, streamlines maximum price for padi seeds | Scoop
Effective today, the maximum price for padi seeds under the Certified Padi Seed Incentive programme is raised from RM31 to RM40 per 20kg (pic for illustration purposes only). – Pixabay pic, October 20, 2023
News

[UPDATED] Govt raises floor price for padi, streamlines maximum price for padi seeds

Move to help farmers and avoid price manipulation, says agriculture ministry

Updated
4:58 PM MYT

 

KUALA LUMPUR – The government today raised the floor price for padi and also streamlined prices for padi seeds, in response to farmers’ complaints.

Effective today, the maximum price for padi seeds for manufacturers under the Certified Padi Seed Incentive programme is raised from RM31 to RM40 per 20kg, the Agriculture and Food Security Ministry said.

Meanwhile, the maximum retail price is raised from RM35 to RM45 per 20kg.

The ministry also raised the floor price for padi from RM1,200 per tonne to RM1,300 per tonne.

These prices are effective for Peninsular Malaysia only.

The ministry said raising the floor price for padi will also impact the price of padi seeds. As such, the price of seeds had to be raised as it would remain unsustainable to sell them at RM35 per 20kg.

“We have been aware of padi farmers’ complaints about difficulties in obtaining certified seeds, which can cost up to RM50 per 20kg,” the ministry added in explaining its move to streamline the prices for padi seeds.

It has been reported that since early October, padi farmers have complained of losses when rice millers began buying their padi at RM1,200 per tonne, the previous floor price set by the government.

Previously, millers had been buying at RM1,700 per tonne.

The ministry today said that the streamlining exercise had no financial implications for the government and would not change other processes under the certified padi seed programme. – October 20, 2023

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