Sri Lanka farmgate rough rice prices sharply up: millers
Published on: January 8, 2022.
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ECONOMYNEXT – Sri Lanka’s farm gate paddy prices have risen to around 95 rupees a kilogram, amid rising retail rice prices above 75 rupees promised in a relief package, a milling association said exceeding an extra premium promised by the government.
Finance Minister Basil Rajapaksa said earlier this week that 75 rupees a kilogram will be offered to farmers which is 50 rupees higher than the usual price for farmers who face crop losses due to a fertilizer ban.
“We do not think the government will need to buy paddy,” Muditha Perera, President of the United Rice Millers Association told reporters.
“Today in the free-market, the private sector is buying rice at 95 rupees a kilogram. If there is insufficient stock, this price can go up further.”
Perera said he thinks paddy prices can go up as much as 120 rupees a kilogram.
Sri Lanka’s retail rice prices are around 140-160 rupees a kilogram now. There are fears of a crop shortfall of around 30 percent or more.
Sri Lanka has imported some rice from Myanmar, but imports are controlled.
(Colombo/Jan06/2021)
Source: https://economynext.com/sri-lanka-farmgate-rough-rice-prices-sharply-up-millers-89380/
