KUALA LUMPUR, Feb 19 — The Agriculture and Food Security Ministry (MAFS) anticipates significant rice and padi industry improvements within the first six months of this year.
Its minister Datuk Seri Mohamad Sabu said they are committed to reforming the rice and paddy industry. This includes completing the study on Malaysia's rice and padi industry conducted by the Malaysia Competition Commission (MyCC).
The study analyses production factors and governance in the industry to uncover possible unfair practices or market monopolies.
"The findings of this study were presented to the Cabinet Committee on National Food Security Policy on December 17, 2024, and the report belongs to MyCC. Therefore, any public disclosure is subject to MyCC's jurisdiction.
"The reform efforts in the rice and padi industry are ongoing. The ministry is committed to taking the necessary steps to establish a fairer, more transparent, and sustainable system for the long term," he said in his winding-up debate on the motion of thanks for the royal address on behalf of the MAFS.
Mohamad added that immediate action is needed to reduce the impact of natural disasters on padi crops, highlighting that increasing the national rice buffer stock capacity is a key measure.
"The current total physical stock of rice is 917,937 metric tonnes, which includes the national rice stockpile of 200,000 metric tonnes and trade stocks of 717,937 metric tonnes. This amount is sufficient to cover 4.59 months of national demand.
"This stock can be reviewed and replenished as necessary, depending on current conditions such as global rice price fluctuations and supply chain disruptions," he said.
At the same time, the Agricultural Disaster Fund has been increased to RM25 million this year, compared to RM12.7 million last year. However, the maximum aid rate remains at 50 per cent.
The minister said that the government does not rule out the possibility of reassessing the aid rate in the future based on the extent of disaster damage, the country's fiscal capacity, and the effectiveness of current aid mechanisms.
"If disaster situations worsen and have a greater impact, the government is ready to reassess the aid payout rate based on current needs and consequences," Mohamad said.
Meanwhile, Prime Minister Datuk Seri Anwar Ibrahim will launch the Agricultural Irrigation and Drainage Infrastructure Project in Kedah next Thursday (February 27). This project supports the five seasons in two years padi cultivation initiative.
— Bernama
