--- title: "Bernas Hikes Price for Imported White Rice in Malaysia Amid Rising Food Cost Crisis" description: "Delve deep into Bernas' recent price hike for imported white rice and its potential impact on the Malaysian community." url: "https://www.mrmoneytv.com/articles/bernas-hikes-price-for-imported-white-rice-in-malaysia-amid-rising-food-cost-crisis/" category: "Financial News" author: "Finlit" published: 2023-09-04 source: "Mr Money TV" --- # Bernas Hikes Price for Imported White Rice in Malaysia Amid Rising Food Cost Crisis Delve deep into Bernas' recent price hike for imported white rice and its potential impact on the Malaysian community. ## Key takeaways - Bernas raised the price of imported white rice to RM3,200 per metric tonne, up from RM2,350. - The hike was driven by climate change, weakening forex, high operational costs, and regional conflicts, then compounded by India's ban on white rice exports. - Other staples were already climbing: chicken hit RM15.11/kg in June 2023 (from RM14.33 in January), ikan kembung reached RM18 to RM22/kg, and some vegetables rose 50 to 100%. - The B40 and hardcore poor stand to be hit hardest, earning around RM1,849 on average against an estimated cost of living of RM3,262. - The article's three suggested responses: pick up gig work for side income, track spending with a budgeting app, and advocate for wage increases through petitions, rallies, or voting. As if we couldn’t already feel the impact of rising food costs, at the start of the month, [Bernas announced a price hike](https://www.freemalaysiatoday.com/category/nation/2023/09/01/bernas-announces-price-hikes-for-imported-white-rice/) for imported white rice where per metric tonne of imported white rice will cost RM3,200 from the previous RM2,350. This comes after several external factors like climate change, weakening foreign exchange rates, high operational costs, and regional conflicts for the company. This has impacted the global rice trading market and was further compounded by the effect of India’s recent announcement banning the exportation of white rice. At the same time, we’ve already seen the cost of other food items like chicken, fish and vegetables going up. - According to [The Malaysian Reserve](https://themalaysianreserve.com/2023/03/21/malaysians-pinched-hard-by-rising-price-of-essential-goods/), ikan kembung (Indian mackerel) is now between RM18 and RM22 per kg, while ikan selar (horse mackerel) went up to RM20 per kg compared to RM16 last year. The prices of prawns and squid also increased compared to last year. - As of June 2023, [chicken costs](https://www.indexmundi.com/commodities/?commodity=chicken&months=120%C2%A4cy=myr) RM15.11/kg while just earlier this year in January, it was RM14.33. - According to [CNA](https://www.channelnewsasia.com/asia/vegetable-price-hike-malaysia-rain-farmer-3251651), vegetables like tomatoes, cucumbers and long beans have seen a 50-100% increase in price. ## What Does This Mean To Malaysians? Currently, The Ministry of Agriculture and Food Security is [set to meet Bernas and paddy farmers](https://theedgemalaysia.com/node/681074) later this week to discuss the issue of rice supply and its prices. And like in the case of our [chicken and egg supply problems](https://www.malaysianow.com/news/2023/02/21/chicken-and-egg-prices-to-be-floated-after-june) earlier this year, hopefully, government intervention will take place to ensure the rice cost doesn’t rise too much. However, if the price of white rice does increase, the most obvious consequence will reflect upon our growingly expensive grocery bills. Not only that, the cost of eating out will also surge as F&B stores would have no choice but to pass on the cost of raw ingredients to customers to sustain their businesses' long-term viability. Unfortunately, should a price hike occur, the group that will be hit the hardest would be the hardcore poor and B40 community. On average, this community [earns a meagre RM1,849](https://www.malaymail.com/news/malaysia/2023/06/06/are-you-actually-m40-or-t20-it-may-differ-according-to-where-you-live/71740#:~:text=Your%20household%20is%20in%20the%20bottom%2040%20percentile%20of%20Malaysians,still%20enjoy%20subsidies%20next%20year) which is a far cry from the [estimated cost of living](https://themalaysianreserve.com/2021/04/26/data-shows-average-cost-of-living-in-kl-is-rm3300-monthly/) of RM3,262. So, how will they continue to put food on the table with such a huge discrepancy? ## What Can Malaysians Do About It? ### 1\. Embrace the Gig Economy Platforms like Grab, FoodPanda, or even local initiatives like [Troopers](https://www.troopers.com.my/home) can provide you with opportunities to earn supplementary income. While not a long-term solution, they can offer relief amid these times of rising food costs. ### 2\. Budget, Budget, Budget Regrettably, there’s nothing much we can do to significantly move the needle when it comes to increasing minimum wages in our country. However, the one thing we do have control over is our spending and more importantly, our budget. Use [budget-tracking apps](https://www.instagram.com/p/Cei62w4JMMr/?img_index=1) to keep track of your spending habits and see [how you can save up](https://youtu.be/Ig9jP9eWpmo?si=I45xVIl0FjbNJw73)! Find out how else you can cut your food budget [here](https://www.mrmoneytv.com/post/10-clever-ways-malaysians-can-cut-their-food-budget)! ### 3\. Advocate For Wage Increase Ultimately, the problem we’re facing is the lack of spending power that stems from the low wages and a high cost of living. One of the most effective ways to change this is to advocate for wage increases whether through signing a petition, rallying on the streets or carrying out your duty to vote during elections. *Subscribe to our f*[*inancial newsletter*](https://www.mrmoneytv.com/) *for the latest news, insights, and advice on personal finance, investing, and more. With every email, you’ll gather the confidence and knowledge to make informed decisions to achieve your financial goals.* ## Frequently asked questions ### Why did Bernas raise the price of imported white rice? Bernas attributed the increase to several external factors: climate change, weakening foreign exchange rates, high operational costs, and regional conflicts. These affected the global rice trading market. It was then further compounded by India's recent announcement banning the export of white rice. The price rose to RM3,200 per metric tonne, up from RM2,350. ### How much does imported white rice cost after the Bernas price hike? Bernas raised the price of imported white rice to RM3,200 per metric tonne, up from the previous RM2,350. The article notes this comes on top of other food items already rising: chicken reached RM15.11 per kg as of June 2023, ikan kembung sat between RM18 and RM22 per kg, and some vegetables climbed 50 to 100%. ### Who is hit hardest by rising rice prices in Malaysia? According to the article, the hardcore poor and B40 community would be hit hardest if the price hike takes hold. On average, this group earns about RM1,849, far below the estimated cost of living of RM3,262. That gap makes it much harder for them to keep food on the table as grocery and eating-out costs rise.