Malaysia moves to tame rice prices

KUALA LUMPUR, Oct 02 (Reuters): Malaysia on Monday announced a subsidy and other measures to try to cool rice prices amid concern over rising costs and supply shortages.
Countries across Asia have seen lower supplies and climbing prices for rice in recent weeks, as rising temperatures threaten harvests and top exporters like India restrict shipments to offset inflation and ensure food security. Malaysia caps the price of local white rice at 2.60 Malaysian ringgit ($0.55) per kg.
According to state-run rice importer Bernas, the retail price of imported white rice is estimated to have risen by as much as 31 per cent from 2.90 ringgit to 3.80 per kg, it said, prompting an increase in demand for local grains.