In a move aimed at addressing rising rice prices and ensuring market stability, the Cabinet of Ministers has given the green light to a resolution permitting the private sector to import 50,000 metric tons of GR11 rice, a variety closely resembling Keeri Samba.
Minister of Trade, Commerce & Food Security, Nalin Fernando, presented the proposal during the Cabinet meeting held on Monday (Dec. 18). The government, in a released statement, highlighted that the decision was driven by the objective to foster competitive pricing for Keeri Samba and Samba varieties in the domestic market, ultimately providing relief to consumers.
This initiative aligns with the recommendations put forth by the Food Policy Committee. On November 20, the Cabinet of Ministers had previously endorsed a proposal to import 50,000 metric tons of rice as a measure to curb the escalating prices within the local market.
The approval of private sector involvement in rice importation underscores the government's commitment to stabilizing prices, ensuring a steady supply of essential food items, and alleviating the economic burden on consumers. The move is anticipated to have a positive impact on the rice market, creating a more competitive environment that benefits both producers and consumers alike.
