For the first time in country registration with the Paddy Marketing Board (PMB) will be made compulsory for all rice mill owners, Minister of Trade Johnston Fernando said.
“Many of the rice mill owners create an artificial shortage, hoarding buffer stocks to make unreasonable profits,” Minister Fernando said. According to him the rice mill owners buy at the lowest prices from the farmers and they hoard these stocks with the intention of making super natural profits.
“We are going to register and maintain a database so that we will know the stock of rice that is in the country,” Minister Fernando said. The Ministry will be able to better prepare and forecast a shortage or surplus of rice by maintaining a database, he added.
Minister Fernando said that they will be able to monitor the amount of stock in circulation and in warehouses thus being able to stabilize the prices whilst meeting the demand. (SR)