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Rice prices further dip

Jul 15, 2011 12:26:45 PM - itnnews.lk

The price of rice has further dipped. There is a better time for rice consumers.

The Yala paddy yield is now reaching the market. In addition to the release of paddy stocks possessed by the farmers, rice stocks are also being issued to the market. The price decline is attributed to the increased supplies. In addition, the price decline is also attributed to the accordance of fertilizer subsidy to the farmers and streamlining of paddy purchases.

A retail price decline of several varieties this week is witnessed in comparison to last week. Accordingly the price of a kilo of raw rice remains at between 50 and 60 rupees. The price of a kilo of the Nadu variety is between 58 and 65 rupees. A kilo of Samba costs 65 rupees. The price of a kilo of Basmathi and Kiri Samba is marketed between 80 and 150 rupees. Rice stocks are reaching the market from areas such as Tissamaharama, Kekirawa, Polonnaruwa and Anuradhapura and from the Eastern Province. Accordingly the Hector Kobbekaduwa Agrarian Training Institute points out that these prices may further decline within the next few weeks.