RICE IMPORTS
SIBU: Rice export has been interrupted in Vietnam and India due to Covid-19 resulting in importers and exporters stocking up supplies.
According to chairman of Sibu Rice Wholesalers Association Yeo Keng Teck, the phenomenon has pushed up prices of rice from Vietnam and India, and caused importers to source for rice from Thailand.
Yong disclosed this at the association’s annual general meeting held at the Sibu General Chinese Chamber of Commerce and Industry premises last Friday evening.
Yeo said rice production in Asia amounted to 90 percent of global demand.
He said India had stopped signing export contracts with other countries due of their shortage of the commodity, hence jeopardising imports by Malaysia.
“This is a situation that we dread. Import of rice makes up 35 percent of the total supply in Malaysia. We believe we can cope with the situation. Rice production in our country will remain stable at least until December.
“Although climate has played a role in production, changes in prices are expected to remain within the range of five percent. So there is no need to be panicky. There are enough choices of rice for us to choose from,” he assured.
Adding on, he said Covid-19 had brought adverse effects, like shortage of labour, movement control order and the closing of businesses.
This had led to global shortage of goods, he said, adding economic recovery seemed to be on a rough ride and uncertain.
“We cannot go back to where we were. In the post Covid-19 era, the situation in the world will change.
“Entrepreneurship will become delicate. We must quickly adapt to the changing patterns to create an era of new commercial stability,” he added.
