{"id":8398,"date":"2023-09-26T09:07:59","date_gmt":"2023-09-26T09:07:59","guid":{"rendered":"https:\/\/ricenewstoday.com\/dev\/?p=8398"},"modified":"2023-09-26T09:08:00","modified_gmt":"2023-09-26T09:08:00","slug":"impact-of-rising-rice-price-negligible","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/impact-of-rising-rice-price-negligible\/","title":{"rendered":"Impact of rising rice price negligible"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/2304006-1024x682.jpg\" alt=\"\" class=\"wp-image-8399\" srcset=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/2304006-1024x682.jpg 1024w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/2304006-600x400.jpg 600w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/2304006-300x200.jpg 300w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/2304006-768x512.jpg 768w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/2304006.jpg 1240w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Sundry shop employee Irwan Shah arranging bags of imported rice at his outlet in Tampoi, Johor. \u2014 THOMAS YONG\/The Star<\/figcaption><\/figure>\n\n\n\n<p>KUALA LUMPUR: CGS-CIMB Research says it is maintaining its consumer price index (CPI) projection for Malaysia at 2.8% this year, as it believes the impact of the rising price of rice \u201cstill negligible on the index as the weightage is only at 1.1%.\u201d<\/p>\n\n\n\n<p>Malaysia currently has 900,000 tonnes of rice stockpiled, equivalent to four to five months of supply.<\/p>\n\n\n\n<p>\u201cDespite much public discussion over the price of rice in the past few weeks, rice prices on the global market have eased slightly from their 15-year high,\u201d it said in a note yesterday.<\/p>\n\n\n\n<p>The research firm noted that the prices of Thailand\u2019s 5% broken white rice had fallen to US$612 per tonne on Sept 20, compared to a peak of US$648 per tonne on Aug 9.<\/p>\n\n\n\n<p>That said, prices are still elevated compared to the 2022 average of US$437 per tonne, it said.<\/p>\n\n\n\n<p>\u201cDomestically, the government has stepped up efforts to ensure stable supply and prices for consumers that include designating more production for the local market, random checks at wholesalers, and a limit on purchases by businesses,\u201d it said.<\/p>\n\n\n\n<p>Even so, the research firm believed the lifting of the export ban by India will be crucial for a marked decline in global rice prices.<\/p>\n\n\n\n<p>India\u2019s Rice Exporters Association said that adequate rain and a good harvest for the autumn season thus far could improve the supply situation and allow the ban to be lifted by December.<\/p>\n\n\n\n<p>Malaysia\u2019s CPI growth was unchanged in August 2023 at 2% year-on-year (y-o-y) (July 2023: 2%), while core CPI eased to 2.5% (July 2023: 2.8%). \u2014 Bernama<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>KUALA LUMPUR: CGS-CIMB Research says it is maintaining its consumer price index (CPI) projection for Malaysia at 2.8% this year, as it believes the impact of the rising price of rice \u201cstill negligible on the index as the weightage is only at 1.1%.\u201d Malaysia currently has 900,000 tonnes of rice stockpiled, equivalent to four to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8399,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[332,246],"class_list":["post-8398","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 - 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