KUALA LUMPUR: Despite global uncertainties due to geopolitical tensions and weather conditions, the country’s staple food supply remains sufficient and stable, says Economy Minister Akmal Nasrullah Mohd Nasir.
“The national rice buffer stock is capable of meeting domestic demand for six months, and the price of local white rice will remain unchanged,” he said during the global supply briefing after the National Economic Action Council (MTEN) meeting in Parliament on Monday (July 13).
He said the government’s priority was to ensure there was no disruption to the supply of essential goods and that the public was not burdened by unreasonable price increases.
Recognising the pressures faced by padi farmers as a result of changing weather patterns and rising production costs, the government has disbursed a total of RM45.98 mil which has benefitted 118,908 farmers in Peninsular Malaysia.
He said the government also viewed the rising fertiliser prices seriously.
“The Ministry of Agriculture and Food Security is diversifying sources of agricultural inputs, strengthening assistance for paddy farmers and improving industry regulation,” he said.
The Fertiliser Bill is expected to be tabled in early 2027 to strengthen governance, quality and market transparency, while enhancing the resilience of agricultural input supplies,” he added.
He said the council had also taken note of the risks from the hot weather conditions and reservoir water levels, adding that the government will strengthen monitoring and implement the necessary measures.
At today's meeting, MTEN received a presentation from the Malaysian Plastics Manufacturers Association (MPMA) on the challenges facing the plastics industry arising from global supply chain pressures and rising raw material costs.”
Industry feedback indicates that manufacturers are facing pressures related to raw material costs, logistics, cash flow and uncertainties in delivery lead times. For some companies, these challenges have already affected business contracts, investment decisions and workforce management,” he added.
In 2025, the industry's sales value stood at RM62.69bil, compared with RM64.78bil in 2024–with packaging accounting for 45% of the market, while the electrical and electronics (E&E) sector representing 29%.
“When the plastics industry comes under pressure, the impact can spread across food packaging, E&E components, the automotive sector, medical devices, construction, agriculture and manufactured exports,” he said.
MPMA also presented its views on several issues relating to cost structures and competitiveness faced by downstream manufacturers, including disparities in raw material costs compared with competing countries.”
The government takes these issues seriously. MTEN has taken note of the proposals submitted by the industry and has decided that the Ministry of Investment, Trade and Industry (Miti), together with the Ministry of Economy, will examine MPMA's proposals, taking into account the interests of the entire industrial value chain, fiscal sustainability and the country's long-term economic competitiveness,” he added.
Akmal added that the meeting had decided that the government’s actions will be guided by four priorities.
This includes ensuring the continued security of food, energy and industrial input supplies through early monitoring, adequate inventories and more diversified sources of supply.
Structural costs and unnecessary regulatory compliance burdens will be reduced without compromising national revenue, consumer safety or the resilience of domestic industries.
The government will also look into expanding market access, attracting high-quality investments and assist local companies, particularly SMEs, in entering higher value-added supply chains.
The adoption of technology, the circular economy and talent development will also be accelerated so that the country’s competitiveness is not dependent solely on low costs.
