Sri Lanka : Cabinet approves open tender sale for PMB rice stocks
Paddy Marketing Board will sell part of its 115,000 metric tonnes of rice stocks through open tenders after Cabinet approval. Sri Lanka plans to retain buffer reserves while freeing warehouse space and raising funds to procure paddy from farmers during the upcoming Yala cultivation season.
The Cabinet has approved a proposal to sell rice stocks held by the Paddy Marketing Board (PMB) through an open tender process.
Around 115,000 metric tonnes of paddy purchased from farmers are currently stored in the board’s warehouses.
It has been planned to retain a sufficient buffer stock while selling the remaining quantity in order to create storage space and raise funds for purchasing paddy from farmers in the upcoming Yala season.
Accordingly, the Cabinet has approved a proposal submitted by the Minister of Agriculture, Livestock, Land and Irrigation to dispose of the stocks through a formal tender procedure.
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Source : Hiru News
