Tuesday, September 27, 2022
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India limits rice exports, imposes 20 per cent tax

The importation of rice from India may be a problem in the near future following the neighbour country’s decision to restrict rice exports, the importers revealed, unravelling a risk of Sri Lanka losing rice exports amidst its worst economic crisis since independence.

Many essential food items including rice, lentils and b-onions are currently imported to Sri Lanka from India.

In addition to the export restrictions, Indian authorities have approved the imposition of a 20 per cent tax per kilo of rice.

Recently, India suspended the export of wheat flour leading to a limitless surge in the prices of wheat flour and bread. In some parts of the country, a loaf of bread is sold for Rs. 300. The Bakery Owners Association disclosed that over 300 bakeries were closed amidst the crisis.

However, the Trade Minister has a different opinion, going on saying that there is no shortage of wheat flour in the country and the prices of flour and bread, therefore, need not be increased.

MIAP

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