Malaysia: Government Lowers Rice Ceiling Prices

The Malaysian government has decided to lower the ceiling prices of Super Special Tempatan (SST) rice with 5% and 10% broken grains and have the new prices gazetted next week.

Agriculture and Agro-based Industry Minister Datuk Mustapa Mohamed said several companies had voluntarily offered lower retail prices for the local rice than the ceiling prices of RM2.80 and RM2.70 per kg respectively as announced by the government on June 1.

To cover losses incurred by rice millers, the government provides a subsidy of RM800 PMT to them with the expectation that they collectively increase ST15% production by 94,000 MT a month.