Traders up in arms against fixed rice prices

Traders are not willing to sell rice at the prices fixed by the government since it is totally unprofitable and that they are losing heavily on the old stocks, market sources said.

Wholesale and retail traders said the government in fixing maximum retail and wholesale prices did not take into consideration the loss traders would incur in selling the existing stocks.

Rice millers and wholesale shops in the country were closed on Thursday in protest against the decision taken to control rice prices which was not reasonable to traders, sources said.

Secretary to the Ministry of Trade Dr. R. M. K. Ratnayake said that the government decided to control rice prices in consultation with traders and that all aspects of the problem were looked into.

“The government took this step to ease the burden of consumers and market rice at a reasonable price”, he said. The government imposed a maximum wholesale and retail price for rice from midnight on Wednesday.

The wholesale price of a kilogram of samba is Rs. 63, retail Rs. 70, Nadu wholesale Rs. 58 and retail Rs. 65, red rice wholesale Rs. 58 and retail Rs. 65 and white rice Rs. 48 and retail Rs. 55.

Despite the Trade Ministry pledging that it will take stern action against traders who did not follow the government regulations retail traders sold rice at the old prices. While the retail price of a kilogram of samba ranged from Rs. 80-100, Nadu, red and white rice was priced between Rs. 70 and Rs. 80. LF