Guaranteed paddy prices announced

The government yesterday (05) announced the guaranteed prices at which the Paddy Marketing Board (PMB) will purchase paddy from farmers, during a special media briefing.

The guaranteed prices are as follows: Nadu paddy will be purchased at Rs. 120 per kilogram, Samba paddy at Rs. 125, and Keeri Samba paddy at Rs. 132.

Minister of Agriculture K.D. Lal Kantha, alongside Deputy Minister Namal Karunaratne, outlined the new procurement rates, explaining that these rates were determined following an evaluation of rice market trends and farmers’ production costs.

He noted, however, that in many areas traders were paying a higher rate for paddy and advised farmers to sell their produce to the highest bidder.

The Minister stressed that the government’s price was merely a mechanism to prevent traders from offering unconscionably low prices that could be detrimental to farmers.

He said that during recent weeks, when only a limited number of farmers were harvesting, prices were elevated due to scarcity, and enforcing a fixed price at that time would have been harmful to the farmers. With an influx of rice stocks now anticipated, there is a risk that prices may collapse; the controlled prices have, therefore, been introduced to counteract that possibility.

The Minister also confirmed that the government will only purchase dry paddy from farmers. He emphasised that the decision was taken to ensure fair prices for farmers while maintaining stability in the rice market, and the Paddy Marketing Board is expected to begin purchasing paddy at these rates immediately. (RK)