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OLD PADDY STOCKS TO BE RELEASED TO THE MARKET

Sep 7, 2011 9:39:03 AM - itnnews.lk

Paddy stocks in Government Storage facilities are to be milled with the intention of protecting the local cultivator.

Currently there is a stock of 128,000 metric tons of paddy in Government Storage facilities. The purpose of this effort is to limit rice imports and prepare stock new paddy by purchasing the yield of the farmers. Measures are in place to hand over the rice stocks to the Armed Forces, Prisons and Hospitals which are used in large scales and also to Samurdhi recipients. The Paddy Marketing Board says there is a bumper Yala paddy harvest The Board has already purchased about 75,000 metric tons. The Government via State Banks has allocated 5.5 Billion Rupees to undertake paddy purchases.
The Government has earned a considerable income by marketing rice stocks. This is also to be utilized to purchase paddy. With the milling of the stocks already in storage facilities, it would create more space to stock the Yala purchases.