Sept 10, Colombo: Sri Lanka's soybean harvest during the Yala season of 2013 has increased 94 percent over last year's harvest and is estimated to yield 30,000 metric tons.
The considerable increase in harvest has prompted the Treasury Department to set a stable price for the commodity.
The officials of the Treasury have held a discussion with Farmers Societies and Traders to determine a stable prices for the government to purchase soybeans and maize from the farmers.
Accordingly, the Treasury Department with a view to maintain fixed price for soybeans and grant higher price for the farmers, has decided to purchase soybeans from the farmers at a price of Rs. 80 per kilogram during the period from 1st of September to 31st of October 2013.
The price will be raised to Rs.85 per kilogram from 1st of November 2013 upwards.
Additionally, it was decided to purchase a kilogram of maize at a price of Rs. 32 to Rs.35.00.
Sri Lanka is self-sufficient in rice, soybeans and maize.