Rishad informs P’ment of loss from imported rice consignment

The Government has incurred a loss of Rs. 5 billion after it was unable to sell 83,554 metric tonnes of rice imported over the last two years.

With the Corporate Wholesale Establishment coming to a standstill, 257,853 metric tonnes was imported through Lanka Sathosa Ltd. at a cost of Rs. 17.3 billion. 

However, by selling these imports at a reduced price, Lanka Sathosa has incurred a loss of Rs. 14 per kg of white rice, Rs. 9 per kg of nadu rice and Rs. 15 per kg of ponni rice.

According to the Ministry of Industry and Commerce, 8,000 metric tonnes out of the remaining unsold 83,554 metric tonnes has been sold to Ceylon Grain Elevators Plc at Rs. 38 per kg. New Hope Lanka Ltd., another private company, has bought 2,000 metric tonnes at Rs. 34 per kg. Currently a stock of 73,554 metric tonnes of rice remains with Lanka Sathosa unsold, the Ministry confirmed to Parliament yesterday. (AH)