Aruna Kumara, a Professor of Crop Science at the University of Ruhuna, has pointed out that the recent increase in rice prices is largely due to the failure of the Paddy Marketing Board (PMB) to purchase paddy in a timely manner. He highlighted that this inaction has resulted in a rice shortage, driving up prices in the country.
The PMB, which possesses storage facilities capable of holding 300,000 metric tons of paddy, is equipped to purchase and store about 10% of the Maha season harvest. However, due to poor management and improper utilization of its resources in the past, the board has been unable to intervene effectively in the market. This has led to the emergence of a rice monopoly that has struggled to compete, further exacerbating the supply shortage.
Kumara emphasized that the lack of foresight and irresponsible actions by the relevant authorities have contributed significantly to the current surge in rice prices. Without a coordinated effort from the PMB to regulate the market and manage supplies, the cost of rice has escalated, creating an economic burden for consumers.
