Raids to nab traders hoarding rice

By L.S.A. Wedaarachchi

The price of a kilogram of local samba should be Rs. 52, Secretary, Ministry of Trade Marketing Development Co-operatives and Consumer Affairs, Dr. R.M.S. Ratnayaka said.After the gazette notification which categorised rice as an essential commodity the price of samba rice dropped sharply last Wednesday.

The price of a kilogram of samba was Rs. 70 at the Maradana market while at the Laksathosa shop at D.R. Wijewardene Mawatha, Colombo, the price of a kilo of ponni samba was Rs. 59.

Dr. Ratnayaka said the Trade Ministry received information that several traders were hoarding rice preventing stocks entering markets. Raids will be conducted by the Consumer Affairs Authority (CAA) throughout the island to nab errant traders, he said.

He said that the price of a kilogram of local samba at Rs. 52 has a good profit margin for retail rice traders and to the rice millers when they pay Rs. 25 per kilo of paddy to farmers.