Bunut Susu, Malaysia, June 13 - Malaysia has allocated up to 803 million ringgit ($245.2 million) to boost domestic rice production, Agriculture Minister Mustapa Mohamed said in a speech to be delivered on Friday
The government has set aside another 923 million ringgit ($281.8 million) this year in the form of subsidies and incentives for paddy production as the country seeks to be 86 percent self-sufficient in rice production by 2010, Mustapa said.
"To ensure a steady supply of rice, the government has agreed for a national food supply plan, which will ensure that food supply is always adequate," Mustapa said during a trip to the northeastern state of Kelantan.
"Our country should not be fully dependent on rice imports from overseas. If there is a shortage of supply in these rice exporting nations, our country will suffer," he added.
Malaysia consumes around 2.2 million tonnes of rice a year, with about 70 percent, or 1.5 million tonnes, met by local production.