Sri Lanka rice hub traders say new paddy coming to market, prices to fall
Rice mills in Sri Lanka’s Marandhagahamulla are receiving new Maha harvest paddy, which will be released to consumers soon. Industry officials confirm that white rice and parboiled rice will be available immediately, while keeri samba and red rice will follow next week. Earlier, red rice vanished into black markets due to price controls below market-clearing levels.
ECONOMYNEXT – Mills in Sri Lanka’s Marandhagahamulla, a key rice trading centre, are getting new paddy from the Maha (main) harvest which will be released to consumers in the next few days, an industry official said.
After torrential rains delayed harvests and drying initially, paddy is now being harvested in several districts.
“After the rains ceased we are now getting rice from about thee districts,” B K Ranjith, President of the Marandhagahamulla Rice Producers Association told reporters.
“We are getting paddy stocks now, and we can release rice at controlled prices.”
White rice and parboiled rice [nadu] will be available from tomorrow, he said.
“Keeri samba, red rice (rathu kekulu), and other types will be available from next week.”
Sri Lanka’s red rice disappeared into black markets from December after price controls were imposed below the market clearing price.
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Source : Economy Next
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