[1643] Of Bernas is unbelievable

KUALA LUMPUR: Padiberas Nasional Berhad (Bernas) has blamed private commercial millers for the recent rice shortage in the local market.Bernas managing director Bakry Hamzah said private millers who controlled 55% of the local rice market had significantly reduced their production in expectation that prices would rise. [Bernas blames private commercial millers for rice shortage. The Star. May 9 2008.

Really?

Meanwhile, Malaysia spooked the global rice market:

CHICAGO, May 8 (Reuters) – U.S. rice prices soared 3-1/2 percent or 75 cents per hundredweight, Thursday’s daily maximum, after Malaysia bought a large amount of rice from Thailand and cyclone-ravaged Myanmar abruptly turned from rice exporter to a country in need of food donations.

[…]

“The Malaysian purchase was more than expected and sooner than expected … another good example of how aggressive rice buyers are right now,” a Chicago rice trader said. [U.S. rice soars 3-1/2 pct as Malaysia buys. Sam Nelson. Reuters via Guardian. May 8 2008]