- Wholesale price of a kilo of Nadu rice: Rs. 225, Retail price: Rs. 230
- Wholesale price of a kilo of white rice: Rs. 215, Retail price: Rs. 220
- Retail price of a kilo of imported Nadu rice: Rs. 220
- Wholesale price of a kilo of Samba rice: Rs. 235, Retail price: Rs. 240
- Wholesale price of a kilo of Keeri Samba: Rs. 255, Retail price: Rs. 260
ECONOMYNEXT – Sri Lanka President Anura Kumara Dissanayake has declared control prices for the island nation’s staple food rice, his office said, as criticism mounted over shortage amid possible hoarding.
“President Anura Kumara Dissanayake has directed rice traders to sell Nadu rice to consumers at a wholesale price of Rs. 225 per kilo and a retail price of Rs. 230 per kilo,” the President’s Media Division (PMD) said in a statement.
“The President also instructed the officials (of the) Consumer Affairs Authority (CAA) to closely monitor the situation over the next ten days and strictly enforce the law against rice mill owners who fail to comply with the fixed prices.”
The move to control price came after shortage has spiked the price in the retail market. Some market stakeholders cite hoarding by rice millers as the reason for shortage.
However, Sri Lanka’s past price controls have always led to further shortage and higher black market prices.
“The President further pointed out that low-interest bank loans have been provided to traders for the purchase of paddy and urged rice traders not to undermine the public’s right to access affordable rice,” the PMD said.
“The President also strongly criticized rice mill owners for frequently changing rice prices on a daily basis and instructed the Consumer Affairs Authority to monitor the daily rice production and distribution by mills.”
“Furthermore, President Dissanayake urged the rice traders to collaborate with the government in resolving the rice-related issues in an amicable manner.” (Colombo/December 07/2024)
Continue Reading
