Dining

RICE: Economic Boom or Bust?

Part VI:

Bojoon.com and CIC has teamed up to review one of the most controversial debates of Sri Lanka - is rice as an industry worth the effort.

The discussion so far...

Rice as an industry comes under heavy fire as an unprofitable venture notes Dr. Sumith Abeysiriwardena - Senior Consultant Researcher of CIC Agri Businesses. Yet, he points out, instead of being abandoned as such, rice production over the last 6 decades has increased by 12 times!

He points out the tremendous demand for rice, ease of handling the grain, especially in terms of storage, and as a crop the only use that can be made out of marshy lands. He continues that with our technology and our unique hydraulic systems our productivity is high and asserts that history has proven that rice is more than our staple, but also our stronghold against our many enemies.

He describes while countries like Australia is making a concentrated effort to create a viable export and domestic industry, we have decreased our rice consumption for wheat, making us vulnerable to adverse foreign influences. He feels that though buffer stock comes with its own set of problems, it provides a good solution to stabilize our staple.

The discussion continues:

Agriculture can be a vicious cycle, says Dr. Abeysiriwardena. In agriculture, the lead times are relatively long. This is the time gap from planting to harvesting. When there is a demand, prices go up.

The shorter the supply, the more acute the demand is felt and the greater the price increase. When the prices increase, it is seen as that particular crop is a profitable crop. Hence, more growers invest their time and labour in growing that crop. However, by the time this crop comes to fruition, prices have done down as now there is a surplus of supply.

This is further compounded by the many unpredictable factors like weather that agriculture depends on largely for a successful harvest. In the same manner there are many other factors like insect infestations and diseases that can affect a crop and even destroy it. Both these factors are unpredictable and often unpreventable. This makes estimating the harvest to come that much difficult, says Dr. Abeysiriwardena.

It is possible to bridge the gaps of shortfall until the next harvest season by importing the amount required to fulfill the short supply and many governments resort to doing so.

However, there are instances like the recent worldwide shortage in rice that can put a severe constrain on the rice market. This can effects the economy of a country as a whole and almost always impact the economically challenged sector of the society, notes Dr. Abeysiriwardena.

Taking the recent experience of couple of the neighbours, Dr. Abeysiriwardena points out that Indonesia, the largest food grain importer was stunned by the sudden increase in prices and the potential shortage of rice. Though Indonesia agreed to pay 62% more than what they did a mere month ago, they still failed to buy the full quantity of the rice it sought. This has led Philippines to call for the creation of an international buffer stock to ensure global food security.

Malaysia too seems to agree with Philippines and have increased their own buffer stocks from 92,000 tonnes to 290,000 tonnes. This, notes Dr. Abeysiriwardena, will serve Malaysia as a strategic reserve for about one and a half months. As the current supply in Malaysia is adequate for Malaysia to feed her people, the additional stock will act as a security against the tight global supply.

India too has doubled its buffer stock from 5.2 million tonnes to 10.05 million tonnes in the space of 2 months. The Indian government fixes its buffer stock every quarter to ensure an adequate supply of grains.

Thus, shows Dr. Abeysiriwardena, the importance many of our neighbouring countries places in creating and maintaining a buffer stock. For a myriad of reasons, the unstable grain supply can create huge constraint on a country, forcing it to spend much of its valued foreign exchange on the world market in search of adequate food. A good solution to avoid such vulnerability is to create a buffer stock, reiterates Dr. Abeysiriwardena.

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Pamper your father at the Mount

The Mount Lavinia Hotel would be hosting the Father's Day with an extravagant Father's Day lunch at the Governor's restaurant on Sunday 15, June.

Additional to lunch, all fathers receive a 10-minute head massage and a family photograph and many other complimentary offers.

Parents could also take a dip with in the pool or spend some quality time by the Indian Ocean.

If the father prefers a nice quiet dinner, he can be accompanied to the Seafood Cove for an extra special evening on the beach at the Seafood Cove.

If you wish to 'wow' your father with a magnificent view at a world famous watering hole, he can be entertained at the Terrace and the Governor's restaurant for Chefs Specials where the hotel Chefs go way out.

In this day and age of a rushed rat-race existence where time is the most precious commodity, make time to show him your love, gratitude and admiration this Father's Day at the legendary Mount Lavinia Hotel.

Father's Day was the brainchild of an American lady named Sonora Dodd. She first thought of it in 1909 while listening to a Mother's Day sermon in church.

Sonora's mother died when Sonora was very young, while giving birth to her sixth sibling. There on, it was William Smart, Sonora's father who took on the role of both parents. Smart was a Civil War veteran, left to look after a newborn and five children by himself on a rural farm in Washington. After Sonora became an adult she realized the selflessness her father had shown in raising his children as a single parent.

It was her father that made all the parental sacrifices and was, in the eyes of his daughter, a courageous, selfless, and loving man.

Sonora's father was born in June, so she chose to hold the first Father's Day celebration in Spokane, Washington on the 19 June, 1910.