Govt. to release 75,000 metric tonnes of rice to market

Ahead of the festival times at the end of the year, the government has decided to release 75,000 metric tonnes of paddy to the market,the Ministry of Cooperatives and Internal Trade said.

The rice is from the stocks of paddy purchased by the government. A part of it is maintained regularly as a buffer stock.

The Minister of Cooperatives and Internal Trade Johnston Fernando told media that the Ministry is now considering applications from the rice millers to process the government paddy stock and a committee had been appointed for the task.

Meanwhile, the market sources say the price of paddy has increased in the past weeks. Generally, the rice prices go up by the end of the year due to upcoming festivities.