No probe of padi and rice industry yet, says MyCC

PETALING JAYA: No investigation has been launched so far over allegations of anti-competitive practices in the padi and rice industry, says Malaysian Competition Commission (MyCC), chief executive officer Iskandar Ismail.

He said MyCC had yet to receive the necessary information from any parties, including the Agriculture and Food Security Ministry’s Padi and Rice Regulatory Division.

This was in response to a media report that the commission was set to investigate allegations surrounding the industry.

ALSO READ: ‘Padi industry needs revamp’

“However, we would like to confirm that the ministry's regulatory division will be meeting MyCC on Jan 19,” he said in a statement on Wednesday (Jan 10).

Iskandar stressed that MyCC had written to the division in October 2023, expressing its readiness to understand and discuss issues surrounding the industry as well as give input on competition concerns.

Iskandar also urged all parties not to speculate since the ministry had issued a formal statement that there are no issues on competition relating to the industry, based on its findings.

On Jan 4, the ministry denied claims that a cartel was controlling the prices of rice and padi seeds in the country.

It clarified that the country's rice industry was regulated by the division through the Rice Control Act 1994.

ALSO READ: There is no cartel controlling price of rice, padi seeds, says Food Security Ministry

According to the Act, the ministry will carry out regulatory activities through licensing and enforcement to ensure healthy and orderly development of the rice industry.

It added that the issuance of 39,000 licences such as rice wholesale licences, export or import licences, padi mill licences, padi purchase licences, rice retail licences, and special approvals to sell certified padi seeds clearly indicated that there is no cartel capable of monopolising the rice industry.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Nation

Do you know... about ice balls?
Pregnant woman pleads guilty to prostitution
New deals reinforce relations
LHDN targets cryptocurrency traders for taxes
Sabah rejects proposed CCUS Bill, citing existing land laws
Agents give MM2H guidelines thumbs up
ECRL project a showcase of close cooperation
Ulu Tiram terror trial begins
Mohd Azizi to take state Speaker to court

Others Also Read