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Stocks of PMB to be milled and released to market

Nov 12, 2010 12:16:00 PM - itnnews.lk

Minister Johnston Fernando has given orders to the Cooperative Wholesale Establishment to immediately mill the paddy stocks purchased by the Paddy Marketing Board (PMB).

The Minister issued this instruction at the behest of the President to the Price Control Committee which met at the Trade Ministry. The Paddy Marketing Board maintains a stock of 200,000 metric tons. Minister Johnston Fernando said that whenever there was a price increase, paddy will be milled and released to the market. The milling of paddy commenced at Rice Processing Centres of the Trade Ministry today. The Trade Minister said that paddy had been stocked to be milled and released to the market whenever a price hike was experienced in the market. Accordingly, the Minister emphasized that it is opportune to release rice stocks to the market.