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Jiuhu suddenly impose purchase cap on rice.... Luckily we have Good Hands
- Thread starter k1976
- Start date
SERDANG: The government is restricting the sale of local white rice to 100kg per customer with immediate effect.
The director-general of the agriculture and food security ministry’s padi and rice regulatory division, Azman Mahmood, said the move was aimed at addressing disruptions in the rice supply market.
The director-general of the agriculture and food security ministry’s padi and rice regulatory division, Azman Mahmood, said the move was aimed at addressing disruptions in the rice supply market.
He said some traders were found buying up to 7,000kg of local white rice.
“That’s why we are implementing this restriction starting from today,” he told reporters at the Malaysian Agricultural Research and Development Institute headquarters here.
Azman said the purchase limit will be imposed until the supply of local white rice normalises.
He said the government has sufficient stocks to last six months.
He also denied claims that local players are changing the label of rice packages following the increase in the price of imported white rice.
There had been claims that a few rice wholesalers were attempting to manipulate the rice market by placing local rice, which has government-set price controls, into bags labelled as imported rice.
Azman said his team has not received any formal complaints from the public regarding the matter.
“Despite some claims made on TikTok, no one has filed an official complaint. They should specify which factory and individuals were involved,” he said.
“That’s why we are implementing this restriction starting from today,” he told reporters at the Malaysian Agricultural Research and Development Institute headquarters here.
Azman said the purchase limit will be imposed until the supply of local white rice normalises.
He said the government has sufficient stocks to last six months.
He also denied claims that local players are changing the label of rice packages following the increase in the price of imported white rice.
There had been claims that a few rice wholesalers were attempting to manipulate the rice market by placing local rice, which has government-set price controls, into bags labelled as imported rice.
Azman said his team has not received any formal complaints from the public regarding the matter.
“Despite some claims made on TikTok, no one has filed an official complaint. They should specify which factory and individuals were involved,” he said.
Rice crisis in the Philippines sounds global inflation alarm
SEP 09, 2023 09:07 AMSURGING rice prices in the Philippines could be a warning sign for other major importers of the food staple as the fallout from India’s export restrictions continues to reverberate across Asia and West Africa.
Rice inflation in the South-east Asian nation increased at the fastest pace in almost five years in August, reviving memories of a 2018 shock that led to the end of a two-decade-old limit on imports. The Philippine central bank warned this week that it is ready to resume monetary tightening if needed, while diplomacy and deals reign elsewhere as other countries rush to secure supply.
“We’re seeing a great deal of uncertainty,” said Shirley Mustafa, an economist at the United Nations’ Food and Agriculture Organization. “Price pressure is being exacerbated by the restrictions.”
India’s restrictions have upended the market and prompted worried nations to secure supply as they try and contain the rising cost of rice, which is a vital part of the diets of billions of people across Asia and Africa. Manila has placed a cap on prices, a measure that has led to the downfall of a finance official.
Finance Undersecretary Cielo Magno said she will resign after a Facebook post that appeared to question the recently implemented price cap. The limit was imposed earlier this month after an “alarming” increase in retail costs.
DAVAO CITY, Philippines — Pegging the price of rice at P20 per kilo is “daydreaming” given the law of supply and demand in the world market, former president Rodrigo Duterte said yesterday.
Duterte said that retail prices of rice could even reach as high as P90 per kilo.
He said Filipinos should accept the fact that there is no way for the price of rice to go down to P20 per kilo, which is too low and not realistic, considering the present market situation.
Duterte said that retail prices of rice could even reach as high as P90 per kilo.
He said Filipinos should accept the fact that there is no way for the price of rice to go down to P20 per kilo, which is too low and not realistic, considering the present market situation.
Duterte said the prices of fertilizers and other farm implements are going up.
“By our standard, P20 is masyadong mababa yan (too low), and rice-producing countries have also limited the volume of rice they could export as they also do not have enough land to plant rice on. It is development, from forestal to agriculture, then to commercial,” Duterte said.
He said the government should be ready to lose at least P3 billion for it to buy rice at a higher price and sell to the people at a lower price to prevent a possible “revolution” resulting from the food crisis.
“By our standard, P20 is masyadong mababa yan (too low), and rice-producing countries have also limited the volume of rice they could export as they also do not have enough land to plant rice on. It is development, from forestal to agriculture, then to commercial,” Duterte said.
He said the government should be ready to lose at least P3 billion for it to buy rice at a higher price and sell to the people at a lower price to prevent a possible “revolution” resulting from the food crisis.
To cushion the impact of the implementation of Executive Order 39, which sets a price ceiling on regular and well-milled rice, the Department of Social Welfare and Development (DSWD) launched its Sustainable Livelihood Program (SLP) in anticipation of small rice retailers’ losses from the temporary price cap.
The EO took effect on Tuesday. It capped prices for regular-milled and well-milled rice at P41 and P45 per kilo, respectively.
The SLP is a capacity-building program that provides startup capital for those who wish to start a small business.
To cushion the impact of food crisis, the government must be able to get hold of the current supply of rice stored in various warehouses and place it on embargo.
This way, the government can control the existing rice supply.
The Federation of Free Farmers (FFF) rejected proposals to temporarily reduce tariffs on imported rice to ease prices of the staple as this could lead to further losses to farmers.
As rice was a major inflation driver in August, which accelerated by 8.5 percent, the National Economic and Development Authority (NEDA) suggested to temporarily reduce tariffs to help lower domestic prices.
The EO took effect on Tuesday. It capped prices for regular-milled and well-milled rice at P41 and P45 per kilo, respectively.
The SLP is a capacity-building program that provides startup capital for those who wish to start a small business.
To cushion the impact of food crisis, the government must be able to get hold of the current supply of rice stored in various warehouses and place it on embargo.
This way, the government can control the existing rice supply.
The Federation of Free Farmers (FFF) rejected proposals to temporarily reduce tariffs on imported rice to ease prices of the staple as this could lead to further losses to farmers.
As rice was a major inflation driver in August, which accelerated by 8.5 percent, the National Economic and Development Authority (NEDA) suggested to temporarily reduce tariffs to help lower domestic prices.
Go back to the days of the jap occupation and eat sweet potatoes. Good for blood sugar as well
Jiu hu rice are subsidised. Meaning it's cheaper than Market price.
In Jiu hu, subsidy means farmers must get less. The fertiliser, seed suppliers gets more.
So currently due to higher prices, it's rice are being smuggled out.
In Jiu hu, subsidy means farmers must get less. The fertiliser, seed suppliers gets more.
So currently due to higher prices, it's rice are being smuggled out.
Yeah, we are BFF De woh
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