Padi floor Price Adjustment Helps Farmers Absorb Costs, Increase Income – MADA

KUALA LUMPUR, Feb 13 (Bernama) -- The adjustment of the padi purchase floor price is not only welcome news for farmers but also helps them absorb rising production costs, ultimately increasing their income.

In a statement today, the Muda Agricultural Development Authority (MADA) hopes that the price adjustment from RM1,300 to RM1,500 per metric ton, effective this Sunday, will provide a ‘win-win’ solution for all stakeholders in the padi industry supply chain.

“Although the country’s padi and rice industry continues to face challenges such as climate change, rising costs and global geopolitical uncertainties, the MADANI government remains committed to safeguarding the welfare of farmers and the well-being of the people while balancing the interests of all parties in the industry,” the statement read.

Welcoming the announcement by Agriculture and Food Security Minister Datuk Seri Mohamad Sabu, MADA also assured consumers that the maximum retail price for local white rice (BPT) will remain at RM2.60 per kilogramme.

“To maintain this price, the MADANI government has allocated about RM150 million to rice millers for the first six months of this year. Through this initiative, 24 million 10-kilogramme BPT rice bags (priced at RM26 each) will be gradually introduced into the market during the first half of the year.

“In Budget 2025, the MADANI government has set aside RM2.6 billion to support padi farmers, including agricultural input subsidies and output incentives, aimed at easing their financial burden while strengthening rice production,” the statement added.

MADA also urged all parties to set aside differences and support government efforts to ensure food security remains a top priority at all times.

-- BERNAMA