Home / Agriculture/ 52,000 MT local rice hits the market

52,000 MT local rice hits the market


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 30 August 2017 00:00


 

  • More coming from India: Rishad 
  • Govt-to-Indian pvt. sector orders placed
  • CWE releases milled PMB paddy to the market
  • Indian private sector prices competitive: Rishad 

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 yesterday, while in discussions with his top officials on the latest moves by his Ministry on domestic rice supplies.

“On the directions of President Maithripala Sirisena, we released 52000 MT of locally milled rice to the markets by last weekend,” said Bathiudeen. “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 the Ministry of Industry and Commerce and its Cooperative Wholesale Establishment have in a Government-to-overseas private sector MoU placed an order for the supply of 70,000 MT of nadu rice to Sri Lanka.  This tranche is expected to land here in mid-September. Another MoU with Indian private sector for 30,000 MT of samba rice is to be inked in Colombo soon. This rice stock is expected to arrive during late September. 

On 31 July, the Cooperative Wholesale Establishment (CWE) under Bathiudeen began local pulling paddy stocks for milling. On the orders the Cost of Living Committee on 26 July, the CWE started extracting 80,000 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 52,000 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 52,000 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 will be in the market, of which 52,000 MT is already in the market. 


Share This Article


COMMENTS

Today's Columnists

Why are interest rates high?

Wednesday, 20 September 2017

The general public is concerned about the high level of interest rates prevailing in the recent past. Interest rates influences the day-to-day life of ordinary people as it is the benchmark for all economic decisions.


Dream or nightmare?

Wednesday, 20 September 2017

An air of unreality pervades the country. What you see is not what it is; fact, truth, reality - mere words, having no intrinsic meaning. An illusion shrouds another illusion; a maya merely hides another ‘maya’, a bottomless pit of deception.


Some thoughts on ‘Vision 2025: A Country Enriched’

Wednesday, 20 September 2017

Recently, our Government unveiled a forward plan titled: ‘V2025: A Country Enriched’. It spells out the Government’s economic vision for many relevant areas, including development plans for our human resource.


Is Sri Lanka ready for the 2025 growth agenda?

Tuesday, 19 September 2017

The other day the President and Prime Minister launched the 2025 vision for Sri Lanka which was incidentally the third policy statement of the Government since coming to power in 2015. My view is that the continuous changes to policy is important and


Columnists More