Friday 19 Apr 2024
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KUALA LUMPUR (Oct 29): The depreciation of the ringgit has caused imported food cost to expand 2.33% to RM21.45 billion for the first half of 2015 (1H15) compared with RM20.96 billion for the same period in 2014, says Minister of Agriculture and Agro-based Industry Datuk Seri Ahmad Shabery Cheek.

The minister said the depreciation of the ringgit has a direct impact on food imported into Malaysia.

"Among the direct impacts of the depreciation of the ringgit is the increase in consumer food price.

"The weakening of the ringgit has also increased the price of animal feed and operation costs.

"Besides, cost of imported agriculture products has also increased," Ahmad Shabery said in a written reply to Cheras MP Tan Kok Wai yesterday.

Tan has asked the minister to state the effect the ringgit's depreciation on imported foodstuffs and the amount of imported foodstuffs for last year and this year.

For 1H15, the ringgit has weakened 7.89% against the US dollar.

Tan also asked about the trade deficit for food items for the past five years.

Ahmad Shabery said that the trade deficit for food items for 1H15 came in at RM8.91 billion.

Meanwhile, the trade deficit for 2014 stood at RM17.02 billion, 2013 at RM16.77 billion, 2012 at RM 15.43 billion, and 2011 at RM13.95 billion.

 

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