Bernas announces price hike for imported white rice

Bernas said it had been absorbing the increase in the price of imported rice for the past few years.

PETALING JAYA: Padiberas Nasional Bhd (Bernas) has announced a price adjustment for imported white rice, effective immediately.

In a statement, it said the price per metric tonne of imported white rice has been raised to RM3,200 from the previous RM2,350.

“Bernas has endured a very challenging first half of the year as a reflection of the uncertainties contributed by multiple external factors such as climate change, weakening foreign exchange rates, high operational costs, and regional conflicts.

“These factors have collectively triggered a significant impact on the global rice trading market, and it was further compounded by the effect of India’s recent announcement banning the exportation of white rice.”

In July, India prohibited the export of non-basmati white rice after a late start to seasonal monsoon rains hurt the crop and raised fears of a production shortfall.

Bernas also said it has been absorbing price increases of imported rice for the past few years.

However, it said the ongoing high level of uncertainty and the importance of ensuring long-term viability for businesses within the industry made the price adjustments unavoidable.

The company added that it will work closely with the government and global industry partners to ensure Malaysia’s rice supply remains stable and the nation’s food security is guaranteed.

“Bernas is committed to ensuring a consistent supply of rice in the country, acting as a ‘shock absorber’ to prevent the negative effects of global rice market fluctuations from affecting the nation.

“Bernas will closely monitor international market prices and adjust prices accordingly once the situation has normalised. Currently, the price of imported rice in Malaysia remains one of the lowest in Southeast Asia,” it said. - FMT