The Malaysian government has decided to offer barter deals in order to build up its rice stockpile and has prepared a plan to offer palm oil in exchange for rice to any rice-exporting country.

Malaysia is the world's second-largest producer of palm oil after Indonesia, and imports nearly 27% of its rice requirement annually.
 
Analysts said the proposal, if pursued at government levels, could lead to barter deals with countries such as India.

India, one of the world's largest palm oil importers by volume, was the third-largest rice exporter until it imposed restrictions on overseas sales in October last year, triggering off a rise in global rice prices.