Prices of imported Samba rice have declined sharply at the Colombo Pettah rice market following a wave of imports from India, bringing relief to consumers after months of elevated prices.
Essential Food Commodities Importers & Traders Association Chairman Ganesh Vinayagasundaram said approximately 27,000 metric tonnes of rice had been imported from India so far.
Prior to the imports, Ponni Samba was priced at Rs. 280 per kilogram at Pettah, Vinayagasundaram said. That has dropped to between Rs. 225 and Rs. 235. Kiri Samba, previously selling at Rs. 325 per kilogram, is now changing hands at between Rs. 240 and Rs. 255 — a drop of Rs. 70 to Rs. 85.
The price relief follows the initial 5,000-tonne shipment that arrived earlier this month under an emergency approval to stabilise domestic supply. Subsequent shipments have scaled the import volume well beyond the opening consignment, giving Pettah wholesalers and retailers room to reset prices downwards.
Sri Lanka has leaned on India imports to counter a domestic rice supply squeeze that pushed consumer prices higher during the first quarter, with the Consumer Affairs Authority running parallel enforcement against overpricing in the run-up to Avurudu.
