Rice Prices In Malaysia Increase By 10-15% In One Week?
If a shop sells SST rice for more than RM13 for 5kg or more than RM26 for 10kg, they are cheating and should be reported.
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Rice prices in Malaysia have reportedly surged by 10-15% within a week, causing concerns among the public.
The price of local super special rice (SST) and super special imported rice has increased by 10-15%, with SST rice now costing RM2,250 per ton compared to RM1,200 in 2021.
The rising prices have increased monthly household expenses, with various rice brands, including imported rice, also seeing a 10-15% hike.
Prices of Rice Products
The price of 5kg SST and imported rice has reportedly increased from RM11.99-RM13.99 to RM15.90-RM16.00, while 10kg of rice is said to have risen from RM28 to RM32-RM35.
Meanwhile, the stock of local rice in the market has decreased by nearly 50% due to rising prices.
Producers have admitted that they can only meet 40% of the country’s needs, and the remaining 60% has to be imported.
The increasing price of rice has affected household monthly expenses, which can now reach up to RM1,500.
This has added to the burden on the public, especially with the increase in bank loan repayments by 13.5% due to Bank Negara raising OPR.
Meanwhile, the government denied the rising prices, stating that the price of rice had stabilised.
READ MORE: Consumers Feel The Pinch As Imported Rice Prices Increase
HARGA BERAS TEMPATAN STABIL, TIDAK NAIK SEPERTI DIDAKWA#MalaysiaMadani #KerajaanPerpaduan #berastempatan #harga #demirakyat #demirakyatpenang pic.twitter.com/uXGBLMgBLX
— demirakyatpenang (@drpulaupinang) June 30, 2023
Super Special Local Rice (SST), subject to the Rice and Paddy Control Act 1994 [Act 522], has not increased in price.
The maximum price for local white rice is RM2.60/kg at the consumer level.
If a shop sells SST rice for more than RM13 for 5kg or more than RM26 for 10kg, they are cheating and should be reported.
Solutions to Rice Problems
The government needs to find a solution to the rice problem in Malaysia.
One solution is to help the rice farmers in Sekinchan, Selangor, find new paddy fields they can lease or joint venture to increase their productivity.
Farmers in Sekinchan can produce 10-12 tons of rice per hectare, while those in Kedah produce only 4-5 tons per hectare.
If farmers in Sekinchan can joint venture with paddy farmers in Kedah, the production can increase from 4-5 tons to 10-12 tons per hectare.
Another solution is to remove all barriers such as monopoly, licensing, quotas, or any other obstacles to rice production, manufacturing, transportation, marketing, import and export within the country.
This will allow anyone to grow paddy and rice and export them to other countries, making Malaysia a central hub for rice imports and exports in Southeast Asia.
Having been in the agriculture machinery and visiting quite a few farmers. There is more than what the article expresses. Ask why SEKINCHAN has the highest rice yield in the country. You will find farmers are divided by politics as such their cost is higher. 1/2 https://t.co/f4GhnkIDua
— Dominic Damian JAN 1513 (@jan_1513) December 8, 2022
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