PMB excess paddy stocks to be exported

Disna Mudalige

The Cabinet yesterday approved the export of 50,000 MT of excess paddy stocks of the Paddy Marketing Board (PMB).

Addressing the Cabinet press briefing at the ministry auditorium yesterday, Mass Media and Information Minister Keheliya Rambukwella said a Cabinet paper presented by Co-operatives and Internal Trade Minister Johnston Fernando in this regard was approved by the Cabinet yesterday.

"The PMB expects to purchase around 75,000 to 100,000 MT of paddy from the total harvest of Yala season towards the end of July. A decision has been taken to convert 50,000 MT of paddy available in stores to rice and sell them to foreign countries after retaining a buffer stock of 50,000 MT of paddy to make available the storage facilities required for the new harvest," the minister said.

He said one MT of paddy will be sold at US $ 300 or more.

The minister said the government earned US $ 6 million for the first time in Sri Lankan history by exporting rice during the previous time.

He said the PMB purchased 138,650 MT during the 2012/13 Maha season by spending about Rs 4.5 million. The PMB had a stock of 145,140 MT of paddy in storages as at June 30, the minister said.

Meanwhile, responding to a question by a journalist, the minister said Agriculture Minister Mahinda Yapa Abeywardena was directed to submit a detailed report on the current situation of the fertiliser shortage during the next Cabinet meeting.

Rambukwella said the Agriculture Minister informed that there is a shortage of certain types of fertiliser.