Bukit Gantang MP objects to floating rice prices

Bukit Gantang MP objects to floating rice prices

Published: Mar 16, 2024 9:03 PM


Bukit Gantang MP Syed Abu Hussin Hafiz Syed Abdul Fasal said he was opposed to the idea of floating rice prices.

He argued that - unlike chicken, eggs, or fish - rice is a staple for Malaysians.

“Such an idea would only benefit wholesalers and manufacturers.

“If one cannot get chicken, they can opt for fish and so on but rice is a staple. People would have headaches if they missed rice for three days straight,” he told Malaysiakini.

Syed Hussin is also the chairperson of the National Action Council on Cost of Living Food Cluster Task Force.

He was responding to suggestions by Bayan Baru MP Sim Tze Zin, Bumiputera Retailers’ Association, and Mydin Hypermarket owner Ameer Ali Mydin, who suggested that rice prices be floated.


Food security

Calling it a food security issue, Syed Hussin said rice prices should be controlled as floating prices would subject them to market volatility.

He stressed that the current high prices of imported rice were a temporary situation triggered by India’s decision to freeze its white rice exports.

“Industry experts have projected that the situation will ease after India holds its national elections, scheduled between April and May,” Syed Hussin added.

He said if the price of imported rice falls, it will also cause paddy prices to dip, which will attract wholesalers and manufacturers to purchase them instead of local produce.

“And when that happens, local paddy farmers would be affected and people would have no choice but to purchase imported rice, which will still be sold at high prices.”