Press briefing of Cabinet Decision taken on 2020-02-12

Maintenance of a buffer stock of rice for food security and price stabilization in the Market

As a price hike is seen in the rice market towards November and December in almost every year, a buffer stock of rice is needed for distribution during such period. The Food Commissioner's Department, presently, possesses a stock facility to maintain a buffer stock of rice to a capacity of 24,000MT. In times of price increase of rice, it is anticipated to maintain a level of price stability in rice by releasing the buffer stock of rice at a Government guaranteed price to the market through the Cooperative Wholesale Establishment (CWE). Accordingly, the proposal made by the Minister of Mahaweli, Agriculture, Irrigation and Rural Development, to obtain paddy stocks purchased by the Paddy Marketing Board and maintain a buffer stock of 20,000MT of Samba and Nadu rice, was approved by the Cabinet.