PMB to buy 100,000 MT paddy

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The Paddy Marketing Board (PMB) has decided to buy 100,000 MT of paddy from the 2022 Yala season harvest at a cost of Rs 10.5 billion.

The Ministry of Agriculture stated arrangements have been made to obtain Cabinet approval for this purpose next week and Agriculture Minister Mahinda Amaraweera has proposed to take steps to pay a fair price to the farmers when buying paddy.

Thus, in determining the price for one kilogramme of paddy, Amaraweera instructed the Commissioner General of Agrarian Services to find out the cost farmers would incur for paddy cultivation per hectare and submit a report and a committee was appointed for this purpose. On the recommendation of the committee, the price per kilogramme of paddy was decided and it was proposed to announce the price as per Cabinet approval.

The Ministry said the process of turning the paddy in the warehouses of the Paddy Marketing Board into bulk rice and sending it to the market is presently being successfully implemented. Chairman of the Paddy Marketing Board, Neil de Alwis said this rice will be released to the market at a lower price.