Price increase in rice observed in local market

Price increase in rice observed in local market

By Keshala Dias

05 Dec, 2017 | 3:40 pm

It is reported, the price of rice in the local market has increased.

Traders say the price of rice has been increasing gradually over the past three months.

When News1st visited the local rice market, it was evident that the price increase has affected local rice products.

President of the Marandagahamula Rice Traders’ Association, D.K. Ranjith, said the low supply to the market is the sole reason for the price increase.

A three month drought and torrential rainfall forced farmers to abandon cultivation for three months.

The Marandagahamula Rice Traders’ Association say, small and medium rice producers do not posses any extra stocks of rice.

They say, this situation has forced the closure of around five-hundred small and medium rice mills across the country.