Local rice prices were pushed up by a milling oligopolistic taking cover behind import regulation, thus a state-run trading business was given approval to import 20,000 metric tonnes of rice from Burma for 460 US dollars a tonne.

After the Cabinet of Ministers approved the importation of 100,000 metric tonnes of rice, the State Trading Corporation has been given permission to import the first shipment. Sri Lanka has prohibited rice imports and imposed a 65-rupee import fee, assisting a milling oligopoly in driving up costs.

At the Maradagahamula economic hub last week, the wholesale price of Nadu, the poorest grade of rice, was 128.13 rupees per kilogramme (128,130 per tonne), valuing a tonne of Nadu at 631 US dollars. A tonne of Samba rice is worth $731 USD. The rice is reportedly being imported by the state trading firm in order to'stabilize' the domestic rice price.

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