Sri Lanka Govt to approve 300,000 MT of maize imports
Agriculture Minister K.D. Lal Kantha announced plans to import 300,000 MT of maize to counteract hoarding and price inflation by feed traders. Some were pushing maize prices to Rs.190–200/kg, risking spikes in egg and meat costs. To protect farmers, the government may impose import taxes and vows to prevent market manipulation and profiteering by vested interests.
Minister of Agriculture, Livestock, Land and Irrigation – K.D. Lal Kantha has announced that the government has decided to import 300,000 MT of maize.
Speaking to the media after attending a District Development Committee meeting at the Kandy District Secretariat yesterday (July 03), the Minister explained that this decision was taken to prevent traders from artificially inflating maize prices.
He stated that certain large and medium-scale businesses dealing with animal feed have been hoarding maize, buying it from farmers at fair prices and reselling it at much higher rates.
According to the Minister, these traders were trying to push maize prices up to Rs.190-200 per kilogram, which would have driven up the cost of eggs to Rs.200 each and increased meat prices significantly.
The Minister emphasized that while businesses are entitled to make a profit, the government will not allow unfair price manipulation. He also noted that, in the past, even ministers profited from animal products, but those days have ended and racketeers will not be allowed to control the market.
To prevent excessive price drops that could hurt farmers, the Food Security Committee has proposed imposing a tax on imported maize, he said.
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Source : Srilanka Mirror
