When traditional Malaysian paddy farmers adopted the Internet of Things (IoT) in the area of Muda Agricultural Development Authority (MADA), it sparked a bioeconomy change. With regard to food security challenges around the world, researchers explored how precision farming can provide farmers with a means of improving and expanding rice production. This can be done through the bioeconomy. For paddy farmers in Malaysia, achieving cost-effective and time-efficient rice production, particularly in terms of rice quality, is a tremendous problem. We used a qualitative approach with field observations and focus group discussions. This allowed us to explore the perceptions of traditional paddy farmers in MADA about the bioeconomy, and how they could make a significant contribution when they participate. Researchers discovered that the Ministry of Agriculture encouraged farmers to adopt it. This is because the changes stemmed from the adoption of IoTs, such as drones for applying fertilizer and pesticides, but there is still a scarcity of them because traditional farmers are largely poor to participate in precision farming since drones’ usage in paddy cultivation in other countries indicated that it could help increase paddy productivity. The farmers also acknowledged and admitted their significant roles toward sustainable consumption and production patterns, both on the demand side and on the supply side of the economy.