Government Overhauls Price Matching Benefit Program to Stabilize Rice Market and Support Farmers
Sri Lanka is making moves to revamp the Paddy Marketing Board (PMB) in order to better support farmers and help stabilize rice prices during uncertain market conditions. The board, which has been inactive for some time and is currently in debt to state banks to the tune of Rs. 28 billion, is taking steps to directly purchase paddy from farmers at guaranteed prices.
This change is aimed at providing more support to farmers, ensuring they receive fair prices for their produce, and ultimately helping to stabilize rice prices in the market. By cutting out the middleman and dealing directly with farmers, the PMB hopes to streamline the process and make it more efficient for all involved.
This restructuring of the PMB is a positive step towards creating a more sustainable and stable environment for rice farmers in Sri Lanka. It shows a commitment to supporting local agriculture and ensuring that farmers are fairly compensated for their hard work.
Overall, these changes are designed to benefit both farmers and consumers by ensuring a fair and stable market for rice in Sri Lanka. It will be interesting to see how these changes play out and the impact they have on the local agricultural sector in the coming months.
