Farmers in the country have welcomed the government initiative to implement a new maximum control price adjustment for the Certified Padi Seed Incentive (IBPS) programme in Peninsular Malaysia, which came into effect yesterday.
While the government's decision to increase the floor price for padi will not affect consumers and retailers since rice is price-controlled, it will not help boost the supply of local rice, said Mydin managing director Datuk Ameer Ali Mydin.
