Malaysia to discuss rice export curbs with India amid surging prices

Malaysia is set to engage in discussions with the Indian government to address the concerns surrounding India’s recent rice export limitations, reported news agency Reuters.The move comes as Malaysia grapples with rising rice prices and supply challenges in the face of restrictions imposed by India and other nations.Malaysia’s state-run rice importer, Bernas, is also exploring alternative suppliers, such as Vietnam, Thailand, and Cambodia, as part of its strategy to mitigate the impact of these restrictions, according to Agriculture Minister Mohamad Sabu.The ongoing surge in rice prices and supply disruptions in Malaysia and other Asian countries is attributed, in part, to adverse weather conditions affecting harvests. India, as a leading rice exporter, has implemented export restrictions to combat inflation and ensure domestic food security.To address its immediate rice shortage, Malaysia has urged local rice millers to increase their monthly production by 20% for a year. Mohamad expects this measure to alleviate the current domestic rice scarcity within a month.Malaysia currently maintains a rice stockpile of 900,000 metric tonnes, a quantity sufficient to meet the country’s rice requirements for four to five months, as confirmed by Mohamad Sabu.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.

This article has been republished from The India Today