Malaysia: Weak ringgit causes veg prices to soar

Deputy Agriculture and Agro-based Industry Minister Datuk Seri Tajuddin Abdul Rahman said that the drop in the value of the ringgit has caused fruit and vegetable prices to increase, as it has raised farmers’ operating costs. The price of imported fertiliser and agriculture equipment now costs farmers up to 30% more. 

The minister said the rise in the prices of local agricultural goods was also due to the distribution chain factor at various levels.

The ministry, through the Federal Agricultural Marketing Authority, strived to minimise the distribution chain to contain price increases, stated Rahman.

One way they did this was with the introduction of the MyFarm Outlets which sold foodstuff at prices 5-20% lower than the market prices, reported the minister.

The MyFarm Outlets were proposed under the Budget 2016 recalibration measures announced on Jan 28 by Prime Minister Datuk Seri Najib Razak.


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