Lankapage Logo CP 18 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Rice shortage over with the arrival of 100000 MT rice shipment
Mon, Nov 6, 2017, 08:40 pm SL Time, ColomboPage News Desk, Sri Lanka.

Nov 06, Colombo: Sri Lanka's Ministry of Industry and Commerce announced today that the first batch of low priced rice out of the huge 100,000 MT Indian rice tranche has been offloaded and is now moving within Sri Lankan retail market, ending any supply fears.

According to the press release issued by the Ministry during the November 4-5 weekend, a total of 20,000 MT tranche of parboiled 'nadu' rice sent by an Indian supplier to the Cooperative Wholesale Establishment (CWE) of Sri Lanka have been offloaded at Port of Colombo and been distributed to CWE warehouses.

The value of the received 20, 000 MT rice stock is USD 8.9 million (Rs 1.36 billion). This rice stock is now being re-distributed from CWE warehouses to Lanka Sathosa outlets to be sold at only Rs 74 per kilo. Any consumer purchasing more than 25 kilos of this rice from Lanka Sathosa can buy them even lower-only Rs 73 per kilo.

Meanwhile, the open international tender call for 200,000 MT rice in three varieties, also successfully closed in Colombo last week.

The Cabinet Appointed High Powered Tender Board is expected to pick the qualifying suppliers for this 200,000 MT international tender by this Friday 10 November. Private sector suppliers from Pakistan, Myanmar, Thailand, India, and Vietnam quoted. Several Sri Lankan suppliers too submitted their bids in this 200,000 MT total which consists of three varieties-90,000 MT Parboiled Nadu rice, 60,000 MT Samba (Parboiled) rice and 50,000 MT White Raw rice.

Of the 200,000 MT rice called for, Sri Lanka expect 100,000 MT to arrive in Colombo by end November 2017 and the other 100,000 MT to arrive by end of December 2017.

According to Minister of Industry and Commerce Bathiudeen, domestic Lankan rice market has faced supply pressures as three consecutive harvesting seasons (2016 & 2016/'17) failed to produce usual paddy volumes resulting in a 50% fall in domestic rice supply this year, thereby necessitating imports to the country to sustain the market.

 

ColomboPage - Recent 10 Stories ::
Sri Lanka to launch World Bank supported Trade Information Portal tomorrow
-- [50 minutes ago]
Contacts between bond scam suspect Arjun Aloysius and criminals revealed
-- [1 hour and 34 minutes ago]
Prime Minister launches five-year National Export Strategy to strengthen exports
-- [2 hours ago]
Sri Lanka asks Indian Airport Authority to submit business plan for Mattala airport operation
-- [2 hours ago]
Mattala Airport agreement with India valid for 40 years - Eran
-- [3 hours ago]
PM's Office orders investigation into statements against Human Rights Commission chairperson
-- [4 hours ago]
Ukrainian border guards detain five illegal migrants from Sri Lanka
-- [4 hours ago]
WFP and Sri Lanka further joint efforts for improved food security and nutrition
-- [5 hours ago]
India assists Sri Lanka in sanitation sector project
-- [5 hours ago]
Lanka Sathosa earns profits this year compared to losses last year

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.