Floods have ruined 13 per cent of crop areas in Thailand, 12 per cent in Cambodia, 7.5 per cent in Laos and 6 percent in the Philippines, according to the FAO.
The glut in global exports of rice could now be wiped out, and speculators may now drive up rice prices.
See this Bloomberg report.
Where does that leave countries like Malaysia? Malaysia is only 70 per cent self-sufficient in rice, and the country imports 30 per cent of its rice requirements. In 2010, most of our rice imports came from Vietnam and Thailand (MalaysianRice website).
How will the privatised Bernas handle this? Will the government now have to put more money in to subsidise higher-priced rice imports?
See the importance of being self-sufficient in food? All this while, our politicians and mainstream economists focus on industrialisation, FDI, and GDP while they look down on the sustainable agriculture and farming sector. But at the end of the day, we can’t eat semi-conductor chips, can we?
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When the world cannot produce enough food, what good is the expensive micro chip? It is still not too late for Malaysia to produce enough rice for our own consumption. Unfortunately,our government chose to monopolize the industry through ‘Bernas’. There are plenty of paddy land left idle, or converted to industrial land or housing. The paddy land owners are mostly Malays, and they are either too old, or their children are not interested to till the land. Further more, the government will support them in all ways. They will not lease the land to other ethnic Malaysians who want to… Read more »
Anil: “But at the end of the day, we can’t eat semi-conductor chips, can we?” Gerakan K: We can eat bread, noodle, KFC, pizza, etc. Or go high end: steaks, chops, etc. On the other hand, we can import rice from other places. Malaysia already transformed and we do not have the competitive advantage when comparing with China and the others in agriculture industries. Go for value added industries such as IT (hardware/software) to ensure high return investment. In today’s borderless world, self sufficiency is no longer relevant. We need to do import (food) and export (semiconductor). Look at Singapore… Read more »
With advances in rice crop production methods, we don’t need many to be farmers but we still need to produce enough for own consumption, paham tak?
In times of severe scarcity of food or war for food, even semi-con chips can’t sell fast enough nor traded at lelong prices to buy a packet of rice for evening meals.
Hunger makes an angry nation, not even the fastest computer chips can save us for another peaceful night of sweet dreams.
Next will be water scarcity when global climate makes water useless or toxic in some countries and scarce in others.
We can even survive a nuclear holocaust because there is always canned food…don’t think there’ll be KFC, though.
We can even survive a nuclear holocaust…
Sure! But first, must check out Gerakan K’s many convenient stores.
Talking about ‘chickens’, there will be many rich ones running around in confusion, some still holding onto useless paper money or plastic cards that won’t work at dead ATMs.
Time to survey Belum rainforest much sooner than 2012.
BTW, where are GK’s stores?
ai yoh just ask the Arabs if they want to trade expensive oil patrol for simple water when they are really thirsty ! why you need processor chip if you don’t have a complete system for it to run ? In times of hunger, food is simply basic. Rice can be cooked on the spot. Processor chip no matter how pricey it is still need to look for buyer ! Like i said above. When one in desert looking for oasis to quench the thirst, the person will even trade the gold for water to survive. note : The price… Read more »
Mark my words. Water will be the scarce commodity of futures trading of rogue traders looking to make fast bucks and create global fears in fast forward mode.
Make hay while the sun shines is their mantra of Donald Ducky Trumpet & Co. Incorporated.
Time to search the right spot near to waterfalls deep in pristine Belum rainforest for future trading in rainforest water bottled in bamboo pipes.
There was an earlier report that said climate change is affecting the rice growing area in Kedah. So expect local supply will be less than 70%. I have it from a good source that China is very active buying rice in Cambodia. With China in the market, Malaysia will be edged out of the supply sources.
I predict that cost of basic food stuff will rise. Price of rice will definitely be up. Sugar for sure as indicated by Malaysia trying to buy sugar in the spot market.
I recall a paddy farmer from Kedah telling me that the dry and wet seasons are now blurred, making it much harder for farmers to grow and harvest rice..
Syed Mokhtar’s (& others associated with) Bernas to capitalize on the potential rice shoratage to increase the price of rice in Malaysia ?
I saw my neighbours buying many packets of 10kg Thai rice to safeguard on potential barang naik phenomena in rice very soon ?
With RM400 billion of national debt, probably Msia’s rice stock can help to reduce the debts by selling them to Thailand ? Or on humanitarian ground Bernas might donate rice to the Thais in need ?
Natural disaster may ruin Thailand but here in Malaysia high wastage and malpractices by BN civil servants are ruining the nation to increase our debt.
A-G Reports is a proof to my statement.
By the way, A-G report also mentioned that BN’s RAZAK SAT satellite went kaput in less than a year. No a good sign for Najib.
Like Greece whose 50% debt were written off, Malaysia is hoping that other ASEAN nations can one day help to write off its escalating debt. It is possible when rich Singapore do so by acquiring Malaysian Iskandar region (property)!
Malaysia’s debt is 407 billion ringgit.
This hugh amount of money is enough to build 80 Petronas twin towers, or 45 KLIAs, or 133 Penang bridges!
BN Hutang keliling Pinggang!