Sri Lanka has more than doubled its spending on rice imports in the first five months of 2025 compared to the same period last year under former President Ranil Wickremesinghe, according to the latest Central Bank report. The surge raises fresh concerns about food security, domestic agriculture, and foreign currency outflows.
Sri Lanka’s Rice Import Bill Doubles in 2025 Compared to Ranil Wickremesinghe’s Tenure, Says Central Bank Report
Sri Lanka has spent a staggering US$ 58.1 million on rice imports from January to May 2025, according to the latest report released by the Central Bank of Sri Lanka.
This figure represents a dramatic increase of US$ 29.5 million, compared to the US$ 28.6 million spent on rice imports during the same five-month period in 2024, when former President Ranil Wickremesinghe was in office.
In essence, the Central Bank report highlights that Sri Lanka has doubled its rice import expenditure during the first five months of 2025, raising fresh concerns about the country’s dependence on foreign agriculture, potential policy missteps, and the pressure on dollar reserves amidst a volatile economic environment.
The report does not specify the reasons behind the sudden spike in rice imports, but agricultural analysts suggest that low domestic yield, land mismanagement, and rising population needs may have contributed to the increased reliance on imports.
Economists warn that if this trend continues, it could adversely affect Sri Lanka’s trade balance and put further strain on foreign currency reserves, which are already under pressure due to increasing imports of vehicles, fuel, and consumer goods.
With food security becoming an urgent national issue, this data could spark policy debates and force the government to re-evaluate agricultural strategies and subsidies.
