Consumers Feel The Pinch As Imported Rice Prices Increase

Restaurant operators have warned that these price hikes will further increase food prices and could force many restaurants to close.

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The retail price of imported rice in Malaysia is set to rise next month, with the cost of 10kg of rice set to increase by RM1.

This follows a price increase of RM1-RM2 per round last month, with suppliers now set to increase prices by another RM1-RM2 for 10kg of rice.

The increase has been attributed to the ringgit’s weakness and rising electricity and labour costs.

3. Harga beras naik –

Ni cuma untuk beras import bukan beras tempatan. Harga beras import bukan barang kawalan. Aku makan beras tempatan ja.

4. Harga makanan di restoran naik 1 Julai –

Errr mai kot mana ni? Apa alasannya? Kedai makan marhaen jual nasi guna beras tempatan ja. pic.twitter.com/XePqPwuzkJ
— Najib Bakar (@najib_bakar_) June 28, 2023

However, critics have pointed out that the real beneficiaries of these price increases are the wealthy elite who hold a monopoly on rice imports.

Recently, it was highlighted that Malaysia imported RM2.3 billion worth of rice in 2021 and predicted that this figure would rise in 2023 due to the falling value of the ringgit.

If the monopoly rice importer can make a profit of 15% on these imports, they stand to gain approximately RM375 million from rice imports alone.

However, it is unclear whether this monopoly importer has paid the assistance to rice farmers amounting to RM10 million upfront as required or the additional RM50 million required later.

Critics argue that this monopoly economic system is part of a wider problem in Malaysia, where a ruling elite holds oligopolies and monopolies on various industries, strangling and sucking the people’s blood.

These elites can maintain their position through political funds, which are used to buy support within political parties and votes during elections.

According to critics, the solution is to vote for a party that can bring real change to Malaysia, where all types of monopolies and oligopolies licensed by the government will be nullified and eliminated.

Until then, Malaysians will continue to face rising prices and struggle to make ends meet.

Meanwhile, restaurant operators have warned that these price hikes will further increase food prices and could force many restaurants to close.

4. Sementara itu, Presiden Persatuan Pemilik Restoran India Malaysia (Primas), J Suresh, turut memberi amaran bahawa kenaikan harga beras import, bersama-sama dengan peningkatan kos bahan mentah, boleh memaksa pengusaha restoran menaikkan harga mereka.
— FWB et cætera (@BMVFM) June 23, 2023