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Rice prices soaring, buffer stock to be released
The government is to take emergency measures to release buffer stocks to control a sharp increase in rice prices in the market.
The move came after commonly used rice varieties such as Nadu, Red and white rice shot up in prices by about Rs 15 a kilo in the past three weeks.
International Trade and Welfare State Minister Anura Priyadharshana Yapa told the Sunday Times that as an immediate measure the Government had plan to release stocks held with the Paddy Marketing Board to bring down prices.
A kilo of Nadu rice priced at Rs 95 last months has increased to Rs 110 while a kilo of Red rice which was Rs 90 last month is now being sold at 110. White rice was sold at Rs 90 a kilo last month, but now it is Rs 100 a kilo. A kilo of Samba rice which was Rs 100 in November is now being sold at Rs 110.
“There is no shortage of paddy. The millers have sufficient amount of paddy with them. Therefore there is no need to import rice. There is only a small disparity in the requirement. When the harvesting starts we will get the quantity of rice we require,” he said.
Minister Yapa also explained that the disparity was a result of the previous government not verifying the need and carrying out studies about the paddy market.
He added the new Government would carry out studies and work closely with the millers to prevent the rice prices from increasing further.
He said they would only resort to importing rice if the prices went out of hand due to shortage.
Minister Mahinda Amaraweera, who was a former Agriculture Minister and a member of the Cost of Living Committee, said they would import rice only as a last resort.