Minimum price fixed on paddy and rice exports

Thursday, 9 August 2012 01:54 - - {{hitsCtrl.values.hits}}

The Government has set the minimum price of a metric ton of paddy and rice (HS Code 10.06) exported from Sri Lanka at Rs. 300,000 with immediate effect following the regulations made by Ministry of Finance and Planning under Section 4 (3), 14 and 20 of Import and Exports (Control) Act No. 1 of 1969, as amended by Act No. 48 of 1985 and by Act No. 28 of 1987.

This measure will support the Government in controlling rather than completely suspending paddy and rice exports with the recent drought destroying thousands of acres of cultivated paddy fields in North Central and North Western Provinces. However, receiving harvest of the forthcoming Maha season, which runs from September to March of the following year, is expected to reduce the minimum price. According to sources, Sri Lanka exported between 10,000 to 12,000 tons of rice supporting Sri Lankan expatriates in the Middle East and elsewhere who consume Sri Lankan rice. (AH)

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