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Food And Beverage
CIO Bulletin
11 October, 2023
Due to new measures the Malaysian government has taken to stabilize rice supplies as prices rise, restaurants can now purchase imported white rice for less money.
Malaysia depends on imports to fill the gap, as domestic rice production barely meets 70% of domestic demand. However, the distribution of rice has been hampered as prices for imported rice have increased concurrently with the recent global price boom.
Since customers frequently like it, many restaurants in Malaysia employ imported rice, such as fragrant rice from Thailand. To satisfy customer demand, several restaurant owners have kept purchasing imported rice while bearing the greater expense.
The Malaysian minister for agriculture and food security, Mohamad Sabu, responded this week by announcing in parliament that the government has started issuing licenses to proprietors of eateries and organizations that represent the food and beverage industry, enabling them to buy imported white rice from millers at wholesale costs.
With these permits, restaurants and other food service establishments can purchase imported white rice for 160 ringgit ($34) per 50 kilograms, which is about half the price they currently pay to wholesalers or other suppliers of the commodity.
According to the government, the action was taken to ensure a sufficient supply of rice at eateries and businesses that deal with food, as well as to stabilize food prices and lessen the burden on consumers.
Reporters were given excellent news by Jeremy Lim, vice president of Malaysia's Restaurant and Bistro Owners Association, regarding the announcement. The new program will "assist many businesses that are struggling with rising cost pressures, negative consumer sentiment, and declining margins."