Bernas hikes price for imported white rice
In a statement today, it disclosed that the price per metric tonne of imported white rice has been hiked to RM3,200, marking a substantial increase from its previous rate of RM2,350...
Padiberas Nasional Bhd (Bernas) has implemented a price adjustment for imported white rice, with immediate effect.
In a statement today, it disclosed that the price per metric tonne of imported white rice has been hiked to RM3,200, marking a substantial increase from its previous rate of RM2,350.
“Bernas has endured a very challenging first half of the year, reflecting uncertainties contributed by multiple external factors such as climate change, weakening foreign exchange rates, high operational costs and regional conflicts.
“These factors have collectively triggered a significant impact on the global rice trading market, and it was further compounded by the effect of India’s recent announcement of banning its exports of white rice,” it said.
In July, it was reported that India, which accounts for 40 percent of the world's rice exports, implemented a ban on non-basmati white rice exports in response to the rising domestic prices.
Further, Bernas said it has been absorbing price increases on imported rice for the past few years.
Working with govt
It also emphasised that the persistently high level of uncertainty and the imperative of ensuring long-term viability for businesses in the industry have made these price adjustments unavoidable.
However, Bernas stressed its commitment to work closely with the Agriculture and Food Security Ministry, as well as its international industry partners to safeguard Malaysia's rice supply.
“Bernas is committed to ensuring a consistent supply of rice in the country, acting as a ‘shock absorber’ to prevent the negative effects of global rice market fluctuations from affecting the nation.
“Currently, the price of imported rice in Malaysia remains one of the lowest in Southeast Asia,” it concluded.
