PADI FLOOR PRICE HIKE REFLECTS MADANI GOVT'S CONCERN FOR FARMERS - EXCO

GEORGE TOWN, Feb 5 (Bernama) -- The upcoming increase in the padi purchase floor price, set to be announced next week, reflects the MADANI government's attentiveness and concern for the voices of farmers, particularly padi growers in the country, according to a Penang state executive councillor.

State Agro-technology, Food Security and Cooperatives Committee chairman Fahmi Zainol said the decision shows that the government truly listens to farmers' grievances and takes their hardships seriously.

"This good news marks the second time the padi purchase floor price has been raised under the MADANI government. Additionally, the government will allocate RM150 million in subsidies for six months.

bootstrap slideshow

“This is an additional commitment from the government to help cushion consumer costs following the padi purchase floor price hike,” he said in a statement today, welcoming the announcement made by Prime Minister Datuk Seri Anwar Ibrahim in Parliament yesterday.

Anwar said the government is expected to announce the padi purchase floor price increase next week, along with additional subsidies to mitigate the impact on consumers, particularly concerning rice prices.

The Finance Minister stated that Agriculture and Food Security Minister Datuk Seri Mohamad Sabu will present a ministerial paper to explain and announce the price increase.

bootstrap slideshow

In 2023, the government raised the padi purchase floor price to RM1,300 per tonne from RM1,200 per tonne, which had been in place since 2014.

-- BERNAMA