Sri Lanka government to amend outdated Rice Marketing Board Act

The Cabinet has approved the introduction of licensing requirements to regulate the storage of rice and paddy to curb illegal hoarding and prevent artificial shortages and price manipulation. The move, expected to increase transparency and ensure consumer access to basic food supplies, addresses the lack of provisions in the Act that has been in place for over 50 years to address modern market challenges. The proposal was submitted by the Minister of Agriculture, Land, Livestock and Irrigation.

The Cabinet on Sunday approved the introduction of licensing requirements to regulate the storage of rice and paddy. The move is to curb illegal rice and paddy hoarding in the face of shortages of the main staple food variety due to bad weather. Although the Act has been in force for more than 50 years, it remains largely unchanged and lacks provisions to address the challenges of modern markets. Cabinet spokesperson Dr Nalinda Jayatisa said the move is expected to increase transparency, curb market manipulation by traders and large millers, prevent artificial shortages ...