Sri Lanka allows people to import rice till Jan 10
Sri Lanka’s cabinet has extended the deadline for rice imports until January 10, aiming to address supply shortages. Originally set to expire on December 20, the extension comes as state-run companies struggled with delays in procurement. While 70,000 metric tons have already been imported, the government aims to ensure adequate supply ahead of the Maha rice harvest. A 65-rupee tax on rice remains in place to benefit local farmers.
ECONOMYNEXT – Sri Lanka’s cabinet of ministers have decided to extend the deadline to import rice till January 10, to allow more rice to be brought into the country, Minister Nalinda Jayatissa.
Sri Lanka initially gave permission to import rice only till December 20.
State-run companies were also not able to import sufficient stocks due delays by suppliers, Minister Jayatissa said.
Already about 70,000 metric tonnes have been brought but the government decided to give time considering the supply situation, he said.
Sri Lanka has a 65 rupee tax on rice (about 200 US dollars0 to give higher profits to farmers.
Sri Lanka has unusual controls on the foods of the people which were worsened particularly in the last 15 years which has pushed up prices far above the rest of the world.
Due to food controls, rice prices tend to move up in December and January ahead of the main (Maha) rice harvest which starts coming from late January to early February.
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Source : Economy Next
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