Four or five companies found involved in rice cartel - Syed Abu Hussin Hafiz

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KEPALA BATAS: There is a local rice cartel involving four to five companies in this country which acted to control the buying and selling of rice, lea...

National Action Council on Cost of Living Task Force chairman Datuk Syed Abu Hussin Hafiz Syed Abdul Fasal. - BERNAMAPIX

National Action Council on Cost of Living Task Force chairman Datuk Syed Abu Hussin Hafiz Syed Abdul Fasal said the information was obtained from engagement sessions with rice farmers, millers, wholesalers, retailers and consumers. “These companies control up to 80 per cent of the local rice market. The cartel buys rice at a high price of up to RM1,850 per tonne of rice and then raises the price of rice.

Syed Abu Hussin Hafiz, who is also the Member of Parliament for Bukit Gantang, said that the findings of the involvement in dealings also showed that the cartel was also influencing rice farmers by offering higher rice prices and at the same time put pressure on consumers with increased rice prices.

 

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