Business tycoon Syed Mokhtar Al-Bukhary has agreed to channel RM30 million to support the government's efforts to help struggling padi farmers following today’s announcement of the new floor price of padi, which will take effect this Sunday.

Prime Minister Anwar Ibrahim said this was conveyed to him by Syed Mokhtar (above) himself when he contacted the latter after the announcement made by the Agriculture and Food Security Minister Mohamad Sabu, during the ministerial briefing on the current situation of the padi and rice industry in the Dewan Rakyat earlier today.

“I would also like to express my appreciation to Bernas (Padi Beras Nasional Berhad), which has always worked with the government to safeguard the welfare of padi farmers.

“Prior to this, Bernas had also channelled RM60 million to help struggling farmers. Insya-Allah, the government will channel this allocation directly to the farmers soon,” he said in a statement.

Syed Mokhtar is the main shareholder of Bernas.

Paddy price rises, rice prices maintained

During the briefing, Mohamad announced that the floor price of padi will be standardised from RM1,300 to RM1,500 per tonne, effective Feb 16.

The minister also announced that the price of local white rice would be maintained at RM2.60 per kg, with the government absorbing part of the production costs amounting to approximately RM150 million over a six-month period.

The prime minister said the announcement was the second adjustment of the floor price of padi implemented by the Madani government in two years to increase the income of farmers.

“The government had previously announced the first adjustment in 2023 after the floor price remained unchanged at RM1,200 for almost 10 years. Efforts to help the farmers were among my first agendas when I was given the mandate to lead the government,” he said.

- Bernama

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