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 “still negligible on the index as the weightage is only at 1.1%.”
Malaysia currently has 900,000 tonnes of rice stockpiled, equivalent to four to five months of supply.
The research firm noted that the prices of Thailand’s 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.“Domestically, 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,” it said.
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