Malaysia has rice stocks for 2.5 months as Vietnam curbs exports

(Source Reuters) 

By Mei Mei Chu

KUALA LUMPUR, March 27 (Reuters) – Malaysia’s has enough rice to last two and a half months, the Ministry of Agriculture and Food Industry told Reuters on Friday, after Vietnam suspended exports to feed its own people amid the coronavirus epidemic.

Vietnam, the third largest rice exporter, on Wednesday said it would not sign any new rice export contracts until March 28 to ensure sufficient domestic supplies, raising concerns about global food security.

Malaysia, a net rice importer, said its food supply was sufficient as it entered the second week of a one-month restricted movement order, including closing borders and requiring non-essential businesses to shut, in a bid to stop the virus.

The country has 500,000 tonnes of rice stocks and consumes 200,000 tonnes a month, according to data from the Agriculture and Food Industries Ministry provided to Reuters.

“Bernas acted early to secure rice export contracts until May 2020 from Vietnam even though it was at a high price,” the ministry said, referring to the national rice agency.

“Our next step is to also purchase rice from other countries including Pakistan, India, Myanmar and Thailand,” it said.

Malaysia, the 22nd largest rice consumer in the world, farms its own rice but also imports 30-40% of its requirement to feed its population of 32.6 million.

The number of confirmed coronavirus infections in Malaysia has doubled this week to more than 2,000, the highest in Southeast Asia, with 23 deaths.

Below are food stocks in Malaysia as of March 25, according to the ministry:

  • Stockpile /Consumption
  • Rice / 500,000 tonnes / 200,000 tonnes month
  • Chicken / 59,000,000 chicken / 43,000,000 chicken a month
  • Eggs / 800,000,000 eggs / 620,000,000 eggs a month
  • Meat / 25,000 tonnes / Enough to meet current needs
  • Fish / 150,000 tonnes / Enough to meet current needs
  • Vegetables / 235,681.2 tonnes a month
  • Fruits / 128,282.8 tonnes a month
  • Fresh milk / 5,100,000 litre a month
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The 1st Best Vietnam Rice Contest
The 1st Best Vietnam Rice Contest
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National trade promotion delegation in the Philippines
National trade promotion delegation in the Philippines
National trade promotion delegation in the Philippines
National trade promotion delegation in the Philippines
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29/12/2022
Rice
Vietnam
Thailand
India
Pakistan
5% Broken
458 0 462 0 388 0 458 0
25% Broken
438 0 445 0 373 0 437 0
100% Broken
n/a 0 423 0 n/a 0 428 0

From 12/01/2023-19/01/2023
(VND/kg)

Rice
Max Price
Average
+/- Weekly
Paddy in the field
      6.450        6.229               –  
Paddy at the warehouse       7.750        7.050               –  
Brown rice grade 1     10.300        9.988  -96 
Milled rice grade 1      11.600      10.863  +13 
5% broken
    10.400      10.254  +7 
15% broken
    10.200      10.008  +8 
25% broken
    10.100        9.775  +8 
Broken 1/2       9.200        8.914               –  
Bran
      8.350        8.054  -11 

Exchange Rate

29/12/2022
Currency Code Currency Name Units per USD
CNY Chinese Yuan Renminbi 6,96
EUR Euro 0,94
IDR Indonesian Rupiah 15639,01
INR Indian Rupee 4,42
MMK Burmese Kyat 55,69
MYR Malaysian Ringgit 82,84
PHP Philippine Peso 2099,42
PKR Pakistani Rupee 226,64
THB Thai Baht 34,61
VND Vietnamese Dong 23604,16