Malaysia Delays Buying Rice

Malaysia has delayed importing another 300,000 MT of rice for its stockpile as its current stock of 310,000 MT is sufficient and also the world price for the staple is expected to drop further next year after a reaching a record high in 2008.

Malaysia's Agriculture and Agro-Based Industry Minister, Datuk Mustapa Mohamed said the current stock level was much higher than the 92,000 MT that the country had when it was experiencing severe shortage in May this year.

On May 13, Bernas and the association signed an agreement for the purchase of 200,000 MT of rice while the Thai government had also offered to sell another 300,000 MT from its existing 2.1 million MT stock under a government-to-government arrangement.