News
150,000 tons of paddy to private millers to stabilise rice prices: PMB
View(s):The Paddy Marketing Board (PMB) is to release some 150,000 metric tonnes of paddy stocks to private rice millers from tomorrow, as an immediate remedy to bring down the price of rice for the festive season, PMB Chairman, M.B. Dissanayaka said.
“We will sell the paddy at higher prices than what we purchased at from the farmers,” Mr Dissanayaka told the Sunday Times.
He said that, initially, paddy stocks would be distributed to small and medium scale rice millers, and later, to wholesale millers in every district.
The move came as a measure to maintain steady rice prices in the markets where prices have risen significantly.
Meanwhile, Finance Minister Ravi Karunanayake said the Cabinet this week approved to import 300,000 metric tonnes of rice as a buffer stock.