Bernas Currently Reviewing Rice Import Prices

Bernas Currently Reviewing Rice Import Prices

Padiberas Nasional Bhd (Bernas) has recently stated that it will begin to reassess international market rice prices, as well as review the price of imported white rice in the domestic market. This is being done in an effort to help the government offer imported white rice (BPI) at a lower price.

According to reporting by The Star, Bernas has said that the BPI price is at its highest in the past 15 years. In 2023 alone, Bernas had brought in and distributed approximately 1.03 metric tonnes of BPI.

In a recently released statement, Bernas mentioned that there was an increase of 46% compared with the previous year. Despite this, Bernas would remain committed to fulfilling its social obligations in managing the national buffer stock and as the ‘Buyer of Last Resort’ or the end purchaser of rice

Working towards sustainable rice supply

Bernas also reiterated that it would work hand-in-hand with the Agriculture and Food Security Ministry, related agencies and authorities in order to find the best solution and measures to ensure the availability of a stable and sufficient rice supply for Malaysians.

Bernas is currently Malaysia’s sole rice importer. In September last year, it raised the price of imported rice to RM3,200 per tonne, from its multi-year pricing of RM2,350 per tonne. According to the organisation, this was a result of the weakening ringgit, high operating costs and the impact of white rice export ban announced by India back in July.

On 23 February 2024, a special meeting was held by the National Action Council on Cost of Living, chaired by Prime Minister Datuk Seri Anwar Ibrahim. For the time being, the council and the Agriculture and Food Security Ministry have been given until 20 March 2024 to resolve the issue of padi and rice prices.

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