Trade and markets
 

Detail

Area
Sri Lanka
Commodity Group
Rice
Commodity
All
Date
01/11/2012
Policy Category
Production
Policy Instrument
Production support, procurement, support prices, insurance, credit
Description
Announced that an estimated 100 000 drought-stricken farmers would be provided with credit relief and seeds free of charge, as part of 2013 budgetary allocations, and that a crop insurance scheme would be introduced alongside the existing fertilizer subsidy programme. In order to support official purchasing activities, the Paddy Marketing Board’s storage capacity is to be bolstered and guaranteed prices for paddy raised by 14 percent to Rupees 32 per kg (USD 253 per tonne) in the case of Nadu paddy and by 17 percent to Rupees 35 per kg (USD 277 per tonne) for Samba paddy. Officials also announced the introduction of a guaranteed price for paddy grown using organic fertilizers of Rupees 40 per kg (USD 316 per tonne).
Notes
Exchange rate as of 15 January, 2013