{"id":7999,"date":"2023-09-13T10:18:24","date_gmt":"2023-09-13T10:18:24","guid":{"rendered":"https:\/\/ricenewstoday.com\/dev\/?p=7999"},"modified":"2023-09-13T10:18:24","modified_gmt":"2023-09-13T10:18:24","slug":"rice-falls-further-as-malaysia-seeks-to-cut-reliance-on-imports","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/rice-falls-further-as-malaysia-seeks-to-cut-reliance-on-imports\/","title":{"rendered":"Rice Falls Further as Malaysia Seeks to Cut Reliance on Imports"},"content":{"rendered":"\n<p>Ben Sharples and Kok Leong Chan,&nbsp;Bloomberg News<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.bnnbloomberg.ca\/polopoly_fs\/1.1970713.1694597860!\/fileimage\/httpImage\/image.png_gen\/derivatives\/landscape_620\/image.png\" alt=\"\" title=\", Source: India's Commerce Ministry\"\/><\/figure>\n\n\n\n<p>, Source: India&#8217;s Commerce Ministry<\/p>\n\n\n\n<p>(Bloomberg) &#8212; Rice prices extended losses as buyers continued to juggle the fallout from India\u2019s export restrictions, with Malaysia seeking to reduce its reliance on overall imports which make up more than a third of its needs.<\/p>\n\n\n\n<p>Thai white rice 5% broken, an Asian benchmark, dropped $19 on Wednesday to $621 a ton, according to the Thai Rice Exporters Association. Prices rallied to the highest level in almost 15 years early last month.<\/p>\n\n\n\n<p>India is the world\u2019s biggest shipper of the grain and its curbs have prompted a raft of deals and diplomacy over recent weeks as countries seek to secure supplies to contain food costs. Malaysia\u2019s Agriculture Minister Mohamad Sabu said the nation had been importing 35% of its rice needs \u201cfor a long time\u201d and that there was an opportunity to produce much more.<\/p>\n\n\n\n<p>\u201cWith the amount of land and resources we have, Malaysia can be self sufficient, but we have not done that,\u201d Sabu said on Tuesday. \u201cI\u2019m surprised that this has not been addressed until India decided to cut its supply.\u201d<\/p>\n\n\n\n<p>Rice is important to the diets of billions and can contribute as much as 60% of the total calorie intake for people in regions including Southeast Asia. Some of the biggest buyers of India\u2019s non-basmati varieties are African nations such as Benin, Senegal, C\u00f4te d\u2019Ivoire, Togo and Guinea.<\/p>\n\n\n\n<p>Senegal and Guinea have made diplomatic overtures to India.<\/p>\n\n\n\n<p>\u201cIndia\u2018s rice export restrictions are expected to impact African countries very negatively,\u201d Baboucarr Manneh, the director general of Abidjan-based research institute Africa Rice Center, said in an interview. The continent is \u201cheavily reliant on India for this nutrition,\u201d he added.<\/p>\n\n\n\n<p>&#8211;With assistance from Fumbuka Ng&#8217;wanakilala.<\/p>\n\n\n\n<p>\u00a92023 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ben Sharples and Kok Leong Chan,&nbsp;Bloomberg News , Source: India&#8217;s Commerce Ministry (Bloomberg) &#8212; Rice prices extended losses as buyers continued to juggle the fallout from India\u2019s export restrictions, with Malaysia seeking to reduce its reliance on overall imports which make up more than a third of its needs. Thai white rice 5% broken, an [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8000,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[332,246],"class_list":["post-7999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-rice-market","tag-rice-import"],"acf":{"enable_premium_overlay":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rice Falls Further as Malaysia Seeks to Cut Reliance on Imports - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rice Falls Further as Malaysia Seeks to Cut Reliance on Imports - Rice News Today\" \/>\n<meta property=\"og:description\" content=\"Ben Sharples and Kok Leong Chan,&nbsp;Bloomberg News , Source: India&#8217;s Commerce Ministry (Bloomberg) &#8212; Rice prices extended losses as buyers continued to juggle the fallout from India\u2019s export restrictions, with Malaysia seeking to reduce its reliance on overall imports which make up more than a third of its needs. 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