Prices of Samba and Nadu reduced

COLOMBO (News 1st) - The price of many essential items spike with the start of the festive season. Due to the incessant rain and adverse weather conditions, the harvest of the Maha season is affected. Paddy cultivation of the Maha season commenced three weeks ago. However, with the heavy downpour, several paddy lands were inundated with water. Against such a backdrop, the price of rice in the local market increased. According to Central Bank statistics, by the 1st of November, a kilo of Samba rice increased to Rs 115 from Rs 95. Namal Karunaratne, National Organizer of the All Ceylon Farmers' Federation noted that more than 1.5 million metric tons of paddy exists in the country and nearly 1.3 million metric tons are held by the mill owners. A kilo of rice comes to the market at Rs 42 rupees and the maximum market price is Rs 84. He added that however, now the kilo exceeds Rs 110 and this is a mafia. The Ministry of Finance issuing a statement said, during a discussion at the presidential secretariat today, mass-scale rice mills owners agreed to provide rice at a concessionary rate to the consumer. Accordingly, the statement added, it was agreed to provide a kilo of Nadu rice at Rs 98 while a kilo of Samba at Rs 99 with effect from tomorrow (December 11).