Minister of Industry and Commerce Rishad Bathiudeen says that rice stocks in the country have increased and sufficient stocks are now available in the market for the next two months.

He was speaking to the press after his inspection tour of retail and wholesale distributors of Colombo wholesale market at 5th Cross Street, Pettah this morning (7), joined by Finance Minister Ravi Karunanayake. 

The unannounced inspections were facilitated by the Essential Food Commodity Importers and Traders Association (EFCITA) on the directions of President Maithripala Sirisena, Prime Minister Ranil Wickremesinghe and the Cabinet Sub-Committee on Cost of Living.

“We find that there are more than enough supplies of all essential items,” said Minister Bathiudeen. 

“Rice stocks have increased and sufficient stocks are now available in the market for the next two months. In fact rice is sold less than government’s MRPs in this open market.” 

He stated that at the markets in Pettah they found a kilo of Nadu at Rs 68 and white rice at Rs 60 at wholesale prices. 

The minister also warned errant traders attempting to create a false shortage of rice in order to “cash in” during the festive season. 

“We can assure that there will be no shortages. There are attempts by some errant traders and market manipulators to cash in on season’s demand. They are spreading false rumours of shortages, to hike prices during the season. They are errant and legal action will be taken against such violators, if detected.”  

Finance Minister Ravi Karunanayake, speaking to reporters, said that they carried out such a surprise inspection visits on the instructions of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe. 

“As you can see with your own eyes, there are no shortages. The stories of shortages are rumours and are spread by unscrupulous elements,” he said.