Sri Lanka sets guaranteed prices for paddy ahead of 2019 harvest
ECONOMYNEXT – Sri Lanka’s Finance Ministry had allocated 5.0 billion rupees to buy rice at guaranteed prices from farmers ahead of the upcoming major harvest season, the government said.
Under a scheme operated by district secretaries, Samba rough rice (paddy) would be bought at 38 rupees a kilogram, and Nadu and other varieties at 38 rupees a kilogram.
The cabinet of ministers had approved the proposal by Finance Minister Mangala Samaraweera to provide 5.0 billion rupees for paddy purchases.
In the 2018 Maha (major) cultivation season, Sri Lanka’s rice crop is expected to fully recover from multiple years of drought. (Colombo/Feb10/2019-SB)