Large scale rice millers have warned that they would be compelled to increase the price of a rice kilo to Rs. 290 in September.
They have warned that rice prices will increase two fold after they are compelled to purchase paddy at a price between Rs. 140 – Rs.150 rupees in the Yala season.
Increases in transport and electricity expenses too, have contributed to this, they say.
Therefore, even though rice is currently sold under government control prices, a decision on prices will have to be taken after Sep. 18, they say.
Meanwhile, the Paddy Marketing Board has planned to purchase 30000 MT of paddy this season and by last Saturday, the amount of paddy purchased had exceeded 5000 MT.
Agriculture Minister Mahinda Amaraweera had already announced that the Board is to mill paddy and release bulk rice stocks into the market under the brand – PMB Rice.