Government of Sri Lanka has allocated six billion rupees to purchase paddy directly from farmers at fixed prices in the forthcoming Yala harvest which is expected to bring good paddy crop production.
Sri Lankan Health Minister, Rajitha Senaratne said that the Paddy Marketing Board will directly make paddy purchasing from farmers in the ‘Yala’ harvest.
Minister of Food Security, Gamini Jayawickrama Perera, has proposed the cabinet to purchase ‘Keeri Samba’ rice and ‘Samba’ rice for 50 rupees a kilo and ‘Nadu’ rice for 45 rupees a kilo which has been approved by the Cabinet Ministers this week.
Around 1.6 million tones of paddy is expected by the Agriculture department to grow in this ‘Yala’ harvest season which is 22 million tones higher than previous year’s output.
The crop will be ready to reach the market from early August and the Paddy Marketing Board will buy about 120,000 tonnes, said Jayawickrama Perera.
Cabinet approved spending six billion rupees to buy the crop which is to be financed by two state banks, Bank of Ceylon and People’s Bank on Treasury guarantees.