52000 MT local rice arrives in market

Sri Lanka has started infusing locally milled rice to the markets and has also inked an agreement with Indian private suppliers for immediate rice tranches to Colombo.
 
“We are also going ahead with the Indian rice orders” said Minister of Industry and Commerce Rishad Bathiudeen during a discussion with his top officials on the latest moves by his ministry on domestic rice supplies.
 
“On the directions of HE President Maithripala Sirisena, we released 52000 MT of locally milled rice to the markets by last weekend” said Minister Bathiudeen and added that these rice stocks were milled from the paddy from the Paddy Marketing Board. "We are also going ahead with the Indian rice orders -they are giving us a very competitive price.”
 
Accordingly, last Friday 25 the Ministry of Industry and Commerce and its Cooperative Wholesale Establishment have, in a Govt-to-overseas private sector MoU placed order for the supply of 70000 MT of nadu rice to Sri Lanka.  This tranche is expected to land here in mid-September. Another MoU with Indian private sector for 30000 MT of samba rice is to be inked in Colombo anytime. This rice stock is expected to arrive during late September.
 
On July 31, the Cooperative Wholesale Establishment (CWE) under Minister Bathiudeen began local pulling paddy stocks for milling. On the orders the Cost of Living Committee on 26 July, the CWE started extracting 80000 MT of paddy with the Paddy Marketing Board’s warehouses to mill in CWE’s own mills as well as through the private millers.
 
CWE sources said that 52000 MT of milled rice from these paddy stocks have already been delivered to Lanka Sathosa during last weekend to be sold to the public at the lowest possible price. The 52000 MT tranche consists of a variety of rice types.
 
As a result of Indian purchases and domestic paddy milling, a total of 152,000 MT of rice is flooding the market-of which 52000 MT is already in the markets at this moment.