Sri Lanka slaps price controls on rice
ECONOMYNEXT – Sri Lanka has slapped price controls on several varieties of rice as price spiked amid import controls and a Coronavirus surge.
The Consumer Affairs Authority, the main price control agency ordered Samba rice (parboiled) to be sold at 94 rupees, white/red raw Samba also to be sold at 94 rupees by millers and producers.
White/red Nadu was ordered to be sold at 92 rupees a kilogram and white/Red raw rice at 89 rupees.
Sri Lanka has concluded the Yala minor agricultural season.
A notice by the Consumer Authority said the “no Producer/Miller shall sell, expose or offer for sale or display for sale the varieties of rice listed below, above the Maximum Prices.
The CCA has previously created shortages of canned fish, dhal amid a Coronavirus crisis by imposing price controls.
In Sri Lanka rice imports are banned and several large millers have stocks under an import substitution strategy. (Colombo/Nov06/2020)