Agriculture ministry to consult finance and economy ministries on strategy to mitigate impact of global oil price hikes on food supply chain
HULU LANGAT: The Ministry of Agriculture and Food Security (KPKM) will seek advice from the Ministry of Finance and the Ministry of Economy to formulate a specific strategy to address the impact of rising global oil prices on the country’s food sector.
Minister Datuk Seri Mohamad Sabu said while the logistics routes for the country’s food imports are not directly affected by the current conflict in West Asia, global oil price volatility is expected to impact the supply chain in the coming months.
He stated that the problem of oil prices and its linkages will likely have an effect not immediately, but potentially in the coming months.
“We will listen to the advice and views of the Ministry of Finance and Economy in framing a strategy at that time,” he told reporters after the Langek Kacau Dodol MADANI 101 Kawah programme at Padang Stadium Mini Pekan Batu 14 here last night.
Mohamad said KPKM will reanalyse the national food stock after May, following geopolitical tensions in West Asia.
He said current supplies of basic foods such as rice, chicken and vegetables are at a sufficient level at least until May, and advised the public not to engage in panic buying.
To face any potential disruption to the food supply chain, the government will try to distribute seed aid to support self-sustaining practices among the people.
“This is so we can be self-sufficient, and if possible also help our other friends. This is not a state of panic, just as a normal practice so that the flowering plants we have can be changed to vegetable plants,” he said.
He added that if such a situation occurs, it could help somewhat, as it was previously implemented under the ‘Green Book’ plan during the late Tun Abdul Razak’s time.
The Green Book Plan policy launched on Dec 20, 1974 was an initiative aimed at encouraging agricultural and livestock activities, especially short-term crops, to reduce import dependency and address rising goods prices.
The Sun Malaysia
