Big-time millers expected to profiteer by creating rice shortage during festive season

By Rathindra Kuruwita

Large-scale rice millers would increase prices of rice in the coming festive season, small and medium scale millers alleged yesterday (28).Chairman of Sri Lanka Small and Middle Scale Rice Mill Owners’ Association (SLSMSMOA), U.K. Semasinghe alleged that a shortage of rice would be artificially created in the coming weeks.

Semasinghe said that the harvesting of the Maha season yield was at the final stages and most of the Maha harvest had been bought over by large-scale millers at around 90 to 100 rupees a kilo.

The government had imposed a buying price of Rs 135 per a kilo of paddy but most farmers had already sold their harvest, he said.

“A considerable amount of rice is used for manufacturing beer. Most of the Maha harvest is now in the stores of a few large-scale millers. They will easily manipulate the market,” he said.

On Wednesday (27), the government reduced the special commodity levy on imported onions and rice.

The Special Commodity Levy of 65 rupees per kilo of rice was reduced to one rupee until 03 April 2024. The levy on ‘rose onions’ was slashed to 10 rupees per kilo. The new levies will be effective until 30 April 2024.