4-10-2023 (KUALA LUMPUR) Malaysia is set to call upon the main rice supplying nations of the Association of Southeast Asian Nations (ASEAN) to give priority to member countries amidst concerns over rising prices and supply shortages. Deputy Agriculture and Food Security Minister Chan Foong Hin stated on Wednesday that Malaysia may engage in talks with Thailand or Vietnam regarding rice supplies, as agriculture ministers from ASEAN convene in Kuala Lumpur this week.
During bilateral sessions, Malaysia plans to raise the issue and emphasize the need to strengthen ties with these countries to ensure that exporting rice to ASEAN nations takes precedence, according to Chan. Thailand and Vietnam are the second- and third-largest exporters of rice globally, following India.
Approximately 38% of Malaysia’s rice requirements are imported, leaving the country vulnerable to export restrictions imposed by major producers like India. In response to rising costs and reduced supplies leading to consumer stockpiling of local grains, Prime Minister Anwar Ibrahim threatened legal action against individuals found to be hoarding rice.
To address the situation, Malaysia has also introduced subsidies and other measures aimed at stabilizing rice prices and ensuring an adequate supply of locally produced white rice in the market.
