Four or five companies involved in rice cartel, says task force chief


KEPALA BATAS: There is a local rice cartel in existence involving four or five companies which controls the buying and selling of rice, leading to shortages and increase in prices.

National Action Council on Cost of Living (Naccol) task force (food cluster) chairman Datuk Syed Abu Hussin Hafiz Syed Abdul Fasal said the information was obtained from engagement sessions with rice farmers, millers, wholesalers, retailers and consumers.

He said he will present the matter at the Naccol meeting on March 20 so that the government can take action against the companies involved.

"These companies control up to 80% of the local rice market. The cartel buys rice at a high price of up to RM1,850 per tonne and then raises the price further.

"In fact, some of these companies sell local rice in imported rice packages - this causes an unstable ecosystem of rice and rice prices," he told reporters after attending the Northern Zone Madani activists breaking fast ceremony at the Penang Golf Resort here on Saturday (March 16).

Syed Abu, who is also Bukit Gantang MP, said that the findings also showed that the cartel influenced rice farmers by offering higher prices for rice and at the same time, put pressure on consumers with increased prices.

He said he would also present a proposal to grant a subsidy of RM200 to rice farmers for every tonne of rice sold to millers so that local rice can be sold at a price of RM30 for a 10kg bag of rice. – Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Nation

Selangor leaders engage Nvidia for ‘Sovereign AI’ development
Cops nab three suspected loan sharks in Ipoh
Immigration Dept bust human trafficking ring in Kelantan, 47 arrested
Botched cable theft triggers fire, explosion, power disruption in Shah Alam
Floods worsen in Terengganu, Perak while Kelantan latest state hit
Dr Wee is set to address key issues at the 11th GLA Conference in Bangkok
Bachok, first district in Kelantan flooded
Dr Wan Azizah proposes setting up of ‘cat homes’
Suspect from Esha cyberbullying case nabbed for similar offence, say cops
Sibu woman loses RM549,000 in online investment scam

Others Also Read