July 12, Colombo: The Sri Lankan government has decided to dispose its paddy stocks purchased and collected by the Sri Lanka Agricultural Products Marketing Authority (SLPMA) on government account with immediate effect.

A stock of approximately 110,181 metric tons of paddy purchased and collected by the SLPMA during 2006 Yala and 2006/07 Maha seasons are lying in stores currently, the Cabinet Spokesman Minister Anura Priyadharsana Yapa said.

“Taking into consideration the present trend in the relative increase in the price of local rice, and the existing shortage of paddy stocks in the market and the high price level created due to the increasing demand, it would be feasible to sell approximately 45,000 metric tons of stock available in the SLPMA stores,” the Minister said.

He said that the Cabinet has granted its approval to dispose 45,000 metric tons of paddy at Rs. 19.70 per kilo for White Short variety and Rs. 18.70 per kilo for White Long variety.