News in brief: Malaysia is in talks with India to address rice export restrictions that have led to concerns about rising prices and supply shortages. It is also negotiating with other rice suppliers like Vietnam, Thailand, and Cambodia to secure stable rice supplies amid recent supply disruptions and increased prices.
Malaysia is set to hold talks with the Indian government to find a solution to its rice export restrictions. These restrictions have reportedly caused concerns in Malaysia over rising prices and supply shortages.
Malaysia’s agriculture minister, Mohamad Sabu, told parliament that the state-run rice importer Bernas will also be negotiating with other suppliers like Vietnam, Thailand, and Cambodia.
In recent weeks, Malaysia has seen lower supplies and an increase in rice prices as hot weather threatens harvests. Countries, led by top exporter India, have restricted shipments to curb inflation and ensure food security.
Malaysia has consequently asked rice millers in the country to increase their monthly production by 20% for a year. Other stakeholders are also committing to improve the commodity’s domestic stability and availability.
Sabu mentioned that current domestic rice shortages were expected to be resolved within a month, after which stringent measures would be lifted. Malaysia currently has 900,000 metric tons in rice stockpiles, according to a Reuters report, which is enough to cover the country’s needs for four to five months.
Through diplomatic dialogues and diversifying its supplier base, Malaysia aims to navigate the challenges posed by the evolving global rice market to ensure a stable food supply and manage rising prices effectively
