Benefit of rice price reduction should go to consumer: Ravi

The benefit of rice price reduction should go to the consumer as planned and all hidden rice stocks should be put into the market immediately.

One kg of rice was priced at Rs. 76 after reduction, Finance Minister Ravi Karunanayake said.

He was addressing a press conference at his ministry in Colombo yesterday.

The minister said the price of one kg of rice should be Rs. 66 once the Trade Ministry announced the new price after the President and the Prime Minister took steps to reduce the price from another 10 rupees on last Friday. It is up to the Trade Ministry to announce the new price. It is effective 12.00 noon, January 27.

According to the minister, private traders will import 23,800 metric tonnes of rice from Chennai shortly, and the price should be definitely reduced according to the several measures taken by the government. Only a handful of traders purposely increase prices artificially.

The media should help bring down the prices and to give intended benefit to the public.

One kg of Sudu Kekulu (white raw), Rathu Kekulu (red raw) and Naadu rice can be easily sold at Rs. 65, he said.