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Sri Lanka to import 50,000 metric tonnes of GR 11 rice

ECONOMYNEXT – Sri Lanka traders were given the go ahead of import 50,000 metric tonnes of rice by the cabinet of ministers, a statement from the government information department said.

They will be allowed to bring GR II grade of rice which is similar to ‘Keeri Samba’.

The imports are expected to moderate the price of ‘keeri samba’ a premium rice that critics claim is hoarded by millers to drive its price up.

Sri Lanka has restrictions on the import of rice, keeping prices above the world market and discouraging competitive cultivation of globally traded grades.

The proposal to allow the import was made by trade minister Nalin Fernando, the statement said. (Colombo/Dec19/2023)

https://economynext.com/sri-lanka-to-import-50000-metric-tonnes-of-gr-11-rice-144277/ QR Code

Published Date: December 19, 2023

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