AreaSri Lanka

Commodity GroupRice

CommodityAll

Date09/11/2017

Policy CategoryProduction

Policy InstrumentBudgetary allocations, production support

DescriptionAnnounced it would set aside LRK 3.0 billion (USD 19.4 million) to launch a weather index insurance scheme, as part of its 2018 budgetary allocations. Insurance premiums under the programme would be partly subsidized by the Government, with the scheme providing minimum coverage of LRK 40 000 (USD 258) per acre planted to paddy, or five other crops. Additional resources would boost storage capacity, monitor groundwater resources, address soil fertility problems and conserve water resources. Credit assistance for smallholders, processors and farmer organizations would also be provided under the Enterprise Sri Lanka Credit Scheme.

NotesExchange rate as of 1 December 2017.