20,000 MT rice to be bought from Myanmar

By Thameenah Razeek | Published: 2:00 AM Dec 1 2021
News 20,000 MT rice to be bought from Myanmar

By Thameenah Razeek 

On the basis of a Government to Government Agreement, the Cabinet approved the import of 20,000 metric tonnes of rice from Myanmar. This is a contract between the Governments of Sri Lanka and Myanmar, with the Government of Sri Lanka paying USD 460 per metric ton through the State Various Corporation Limited. 

Co-Cabinet Spokesman Dr. Ramesh Pathirana told the cabinet media briefing yesterday (30) at the Department of Government Information that the Cabinet meeting on 24 September 2021 approved the import of 100,000 metric tonnes of rice, allowing for sufficient buffer stocks of rice without any shortages and a safe stock of rice. 

He said that there is no acute rice shortage in the country, but rising rice prices have been a source of concern for the past three months and that the Government has opted to import rice to establish a pricesetting system. “There was a controlling mechanism in place once we started importing rice and distributing it through Sathosa channels. 

Because Sathosa was able to sell rice for Rs. 98 per kg, there is a balancing mechanism in place. As a responsible government, we must investigate those possibilities. This is why, despite the foreign exchange, we decided to import rice,” he explained.

By Thameenah Razeek | Published: 2:00 AM Dec 1 2021

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