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Sri Lanka open Rs2.6bn state paddy store in the North

ECONOMYNEXT – Sri Lanka has opened a state-run paddy store in the North Eastern region of Mannar which can store 10,000 metric tonnes, a statement said.

"Though the government has a guaranteed price for paddy, there was no storage in the North," Industries and Commerce Minister Rishard Bathiudeen was quoted as saying at the opening ceremony.

"Now farmers in this area who suffered under 30-years of war can sell their paddy at guaranteed prices."

The paddy store was built at cost of 2.6 billion rupees, the statement said.

Finance Minister Ravi Karunanayake was quoted as saying that 35 more stores would be built.

Though private millers have stores with rodent control and moisture management allowing them to store rice for long periods, paddy deteriorates quickly at state stores and are sometimes sold as animal feed.

Controversy also surrounds state rice deals both in procurement and sales. (Colombo/Jan29/2017)

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