Amid the unprecedented economic crisis in Sri Lanka, the price of rice has risen to "unbearable levels" in the island nation.
The consumers in the island nation said that rice prices have risen to unbearable levels. The minimum price of a kilo of rice in the general market has now exceeded Rs 200-240, Colombo Page reported.
The government has been forced to restrict the import of several essential commodities - including food items which has pushed the price of essentials such as milk powder and rice much higher.
Although the Ministry of Trade has stated that rice is being sold at concessionary prices by wholesale network Lanka Sathosa outlets, it was learned from several CWE outlets that imported rice was not meeting the demand, according to Colombo Page.
It further reported that Sathosa outlets in many parts of the country are in short supply of essential consumer items including rice, dried chillies and other items.
Consumers demanded the government should take steps to reduce prices by importing rice or setting a control price.
Sri Lanka is battling a severe economic crisis, with food and fuel scarcity affecting a large number of the people in the island nation. The economy has been in a free-fall since the onset of the COVID-19 pandemic, leading to the crash of the tourism sector.
Sri Lanka is also facing a foreign exchange shortage, which has, incidentally, affected its capacity to import food and fuel. The country is facing long power cuts.
The country is also witnessing protests over the government's handling of the worst economic crisis in decades. Yesterday, a protest was held outside the US Embassy in Colombo against the Sri Lankan government.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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