Area
Sri Lanka
Commodity Group
Rice
Commodity
All
Date
23/01/2020
Policy Category
Production
Policy Instrument
Government procurement, support prices
Description
Decided that, in order to ensure remunerative prices for farmers at harvest time, it would establish a minimum certified price of LKR 45-50 per kg (USD 237-264 per tonne) of paddy, depending on moisture content, during the 2020 Maha procurement drive. This level compares with the LKR 38-41 per kg (USD 200-216 per tonne) price paid to producers during the 2019 Maha procurement drive. State purchases during the purchase campaign would be conducted through district secretaries, government agents and the Paddy Marketing Board. Moreover, LKR 100 billion (USD 527 million) worth of pledge loads would be issued for millers at a concessional interest rate of 8 percent in order to help them to purchase paddy at certified prices.
Notes
Exchange rate as of 15 May 2020.
