Sharp drop in rice prices | Sunday Observer

Sharp drop in rice prices

12 February, 2023

Rice prices in the local market have declined significantly.

“We expect a further decrease in rice prices,” said All Ceylon Small and Medium-Scale Rice Mill Owners’ Association chairman V. K. Ranjith. According to Ranjith, the price of a kilo of rice has decreased by Rs. 20 - Rs. 25. A kilo of Nadu rice (first class) is now between Rs. 185 - Rs. 190, a kilo of Samba is between Rs. 190 - Rs. 205, and a kilo of white Nadu rice is between Rs. 170 - Rs. 180. A kilo of Red rice is Rs. 185 - Rs. 190. A kilo of Keeri Samba rice is now being sold at between Rs. 220 - Rs. 230. Paddy prices have come down from Rs. 150 to Rs. 75 and Rs. 80.

Chairman V.K. Ranjith said that the harvest of the 2023 season is now coming in. He said they were distributing the rice stocks that arrived in the country as foreign aid. This has contributed to the reduction in prices. He said there is no competitive market demand for rice at present.