July 02, Colombo: Sri Lankan government is to buy 70,000 MT of paddy from the upcoming harvesting season to support the rice farmers in the country.

The cabinet today approved a proposal put forward by the Minister of Agriculture Development and Agrarian Services Maithripala Sirisena to purchase the harvest by the Paddy Marketing Board.

The Cabinet also allowed the to Paddy Marketing Board (PMB) obtain Rs. 2.03 billion from the General Treasury to purchase the 70,000 MT of paddy at Rs. 30 per kilogram of 'Samba' rice and at Rs. 28 per kilogram of 'Nadu' rice.

The PMB asked the farmers to sell 10% of their harvest (500 Kg per hectare) at the same price they sold in the 'Maha' season 2009 which runs from September to March.