Sri Lanka Caps Rice Prices
The government of of Sri Lanka has officially capped the price at which rice can be sold with in the country. This new law caps the price to 70 rupees per kilo ($0.65). In addition a consumer court has been setup to punish retailers selling rice over the price ceiling, hiding stock or misleading the public. Despite these new tough stance by the government the Consumer Affairs Minister Bandula Gunawardena denied the suggestion that Sri Lanka is undergoing rice shortages as seen in much of Asia.
The retailers are furious regarding these new laws as they were not consulted about these decisions. Many have been retailers report that they cannot sell the rice at this new capped price as they have already bought rise in bulk at higher prices. Two weeks ago wholesalers requested the government attempt to persuade India to lower the price at which it was selling non basmati rice as of yet no response has been received from the government. India has now stopped exporting non-basmati rice.
