Govt increases stockpile of rice

It is not all gloom in the world economy as prices for rice decreased significantly in line with the drop of global fuel rates.

This in turn has allowed the Government to increase its stockpile level three times more than last May, Agriculture and Agro-Based Minister Datuk Mustapa Mohamed said.

The ministry expects more decreases in the price of rice in view of the depreciation of other commmodities, notably the the global fuel prices, he added.

“We are in a comfortable zone for now. We have moved ahead of the fears of a global food crises but we have to remain watchful,” Mustapa said after attending the Universiti Malaysia Kelantan (UMK) Hari Raya open house at its temporary campus in Taman Bendahara.

On the possibility of importing rice from Vietnam, Mustapa said ministry officials are surveying the quality and, if it meets the standard, the Government will consider buying from them, Mustapa said.