Feb 03, 2019

Pricing formula for rice too Featured

The government is going to introduce a pricing formula for rice as well.

Secretary of the rice producers association Muditha Perera said the decision was taken at a discussion at the Agriculture Ministry last Wednesday.

Ministers P. Harrison and Dr. Harsha de Silva, national organizer of the agrarian conference Namal Karunaratne and rice mill owners led by Dudley Sirisena participated.

Participants said a pricing formula would be able to decide rice prices automatically without having to introduce a ceiling price.

According to a specimen in the pricing formula, when a kilo of paddy is priced at Rs. 10, the wholesale price of a kilo of rice is Rs. 24 and the retail price is Rs. 28.