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Plans to make rice mill owners register with PMB
Plans to make rice mill owners register with PMB

The Government plans to register the rice mill owners with the Paddy Marketing Board, Cooperative and Internal Trade Minister Johnston Fernando told Parliament on Wednesday.

For the first time in the country, registration with the PMB will be made compulsory for all rice mill owners, Minister Fernando said, adding that this move would reveal the exact details and figures so that the mill owners would not be able to control the market prices by creating artificial shortages.

Participating in the Second Reading stage debate on Food (Amendment) Bill the Minister said that many of the rice mill owners create an artificial shortage, hoarding buffer stocks to make unreasonable profits. The rice mill owners buy at the lowest prices from the farmers and they hoard those stocks with the intention of making maximum profits.

"We are going to register and maintain a database so that we will know the stock of rice that is in the country," he said

The Ministry will be able to prepare and forecast a shortage or surplus of rice by maintaining a database, he added. Minister Fernando said that they will be able to monitor the amount of stock in circulation and in warehouses thus being able to stabilize the prices whilst meeting the demand.

Posted on Friday, April 08, 2011 @ 03:55:07 JST by admin

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