RM500 PADI PRICE SUBSIDY PRICE INTRODUCED

GOOD NEWS for paddy farmers in Malaysia when the government raises padi subsidy rate to RM500 per ton recently. Paddy (Oryza sativa) is the third important crop grown in Malaysia after palm oil and rubber. Many local media reported that when Malaysian Prime Minister Anwar Ibrahim said it is the largest ever increase for padi farmers who will be able to earn more because of the new rate. Prime Minister Anwar Ibrahim said the last time the padi price subsidy scheme rate was increased was when he was the finance minister in the 1990s. At rice granary area in Parit Buntar, Perak Prime Minister Anwar Ibrahim today announced an increase to the padi price subsidy scheme (SSHP) rate from RM360 to RM500 per tonne on all padi production which effective tomorrow (9 August 2023). He said with the increase, padi farmers will receive at least RM1,700 per tonne of the padi they produce, thus giving them more revenue. “This is the biggest increase in (the country’s) history. The rate was last increased when I was the finance minister a long time ago,” he said at the launch of the state-level Sentuhan Agro Madani programme here. The prime minister said the increase will involve an annual expenditure of RM1 billion. To address the issue of grading and classification of rice grains, Anwar said discussions will be held with the agriculture and food security ministry to deploy agricultural officers to private rice mills specifically to monitor the process and ensure manufacturers adhere to the established standards. Anwar, who is also finance minister, said his ministry will consider increasing funding to begin the five-season padi cultivation process within two years. “The RM3 billion (already) allocated for building waterways and related matters is not enough. We need to add more. We will try to do our best for the farmers,” he said. At the same event, Anwar also announced RM21.8 million in aid for more than 28,000 padi farmers and planters in Perak. This is good news for paddy industry due ti the increase cost of production in this industry. Source Bernama. Thanks...

By,

M Anem,

Putrajaya,

Malaysia.

(August 2023).