Local white rice supplies are running low due to panic buying - Mat Sabu

KUALA LUMPUR - Local white rice supply shortages are occurring due to panic buying by consumers and traders, the Dewan Rakyat (Parliament) was told today.

Agriculture and Food Security Minister Datuk Seri Mohamad Sabu expressed that when the price of imported rice rises, demand for local white rice increases.

"When there is a significant increase in the price of imported rice, those who usually buy imported rice switch to local rice, causing a shortage in the market," he said during the winding-up session of the 12th Malaysia Plan (12MP) Mid-Term Review debate.

However, Mohamad indicated that the government has not yet decided to prohibit foreigners from purchasing local white rice.

"Foreigners also need to eat, don't forget that they work and serve to develop our country," he stated.

Wan Ahmad Fayhsal Wan Ahmad Kamal (PN-Machang) intervened earlier and asked Mohamad to state the government's decision on the proposal to ban rice sales to foreigners.

Mohamad stated his belief that the intervention measures taken in addressing the shortage of local rice, including the implementation of the Local White Rice Operation, would address the issue.

In terms of the country's rice supply stock position, he stated that the current stock is 900,000 metric tons, consisting of 250,000 metric tons of stock reserves and 650,000 metric tons of trade stock.

"This quantity is sufficient to meet the country's rice needs for four to five months.

Therefore, the ministry believes that there is still no urgent need to use the stock reserve, which totals 250,000 metric tons," he added.

He also said that the existing trade stock of 650,000 metric tons is sufficient to meet domestic demand.