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* Tough action against Sri Lankan rice traders hiding rice stocks
Fri, Aug 29, 2014, 09:01 am SL Time, ColomboPage News Desk, Sri Lanka.

Aug 29, Colombo: Sri Lanka Consumer Affairs Authority announced Thursday that the rice millers are required to submit the records of their stocks to the Authority by September 15.

The Authority said that private rice mills and stores would be raided after that day for hidden stocks and stern action would be taken against rice hoarders.

Consumer Affairs Authority officials say that some rice millers had hidden the rice stocks to inflate prices of rice in the market and after the deadline such rice mills would be raided and hidden stocks would be confiscated.

The price of the staple food of the Sri Lankans is soaring and the rice is sold at high prices despite the price control.

Sources say that the paddy purchased by the state owned Paddy Marketing Board and Cooperative Wholesale Establishment have been sold out to the private sector.

Cooperative Wholesale Establishment has a retail network but their rice stocks have also been sold to the private sector, industry sources charge.

Meanwhile, due to the prolonged drought the government is planning to import 100,000 metric tons of rice to control the escalating price.

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