Wednesday, August 11, 2010

Sri Lanka observed bumper paddy buffer stock post civil war

Sri Lanka reported record paddy buffer stock due to cultivation in the paddy fields in the North and Eastern region that have been abandoned due to civil war.

On August 10, 2010, Johnston Fernando, Co-operative and Internal Trade Minister, Sri Lanka, said that the country currently has a buffer stock of 80,000 MT of paddy. Cultivation in wartorn areas coupled with fertilizer subsidy provided by the government resulted into bumper harvest this year.

According to the report of Daily News, Mr. Fernando said that Sri Lanka is now self-sufficient in paddy and the government will maintain a two-month buffer stock so that citizens do not face any artificial shortages created by the market.

He said that government has not stopped buying paddy harvests from farmers and made necessary arrangements to store the yala season paddy harvest. The government is going to use the store houses of the Food Department as well as those of the private owners.

He said that government is paying Rs.28 for per kilogram of Nadu paddy and Rs.30 for per kilogram of Samba paddy. The farmers are required to bring their crops to 136 store houses of the Paddy Marketing Board (PMB) located around the country.

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