Hornbill Unleashed

July 6, 2017

Price hike possible for imported rice, minister says

Filed under: Politics — Hornbill Unleashed @ 8:01 AM

Ahmad Shabery said several factors may contribute to the price rise including the higher price of rice globally and the depreciated value of the ringgit. — AFP picThe Ministry of Agriculture and Agro-Based Industry has not dismissed the possibility that the price of imported rice may rise in future since it is not a controlled item.

Its minister, Datuk Seri Ahmad Shabery Cheek said several factors may contribute to the price rise including the higher price of rice globally and the depreciated value of the ringgit.

“However, this (price rise) is mere speculation. The ceiling price of imported rice is not controlled but according to regulations, it cannot be sold at a price lower than local rice to protect the national rice industry.

“Maybe, what the Rice Wholesalers’ Association said is correct since there are signs that the global price of rice has risen.

“One tonne of imported rice used to be between US$340 (RM1,461) and US$350 (RM1,504) but  now there are signs that it can reach US$400 (RM1,719) per tonne,” he told a press conference after the launching of Sultan Nazrin Muizzuddin Shah Fisheries College at Kampung Acheh Fisheries Complex by the Sultan of Perak, Sultan Nazrin Shah, today.

Ahmad Shabery said the rise of the global price of oil may affect the price of imported rice while natural disasters like the one in Bangladesh recently resulted in rising  demand for the commodity.

Earlier, Malaysian Rice Wholesalers Association president Wu Zi Lian predicted that the price of imported rice could rise by 10 percent by the end of this year.


Source : The Malay Mail Online by Bernama


 

Advertisements

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: