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Sri Lanka Rice, Wheat Prices Remain Generally High but Stable

17 July 2013

SRI LANKA - The price of rice, which has been on steady rise between June 2012 and February 2013, remained generally stable since, following satisfactory supplies from the 2013 main season Maha paddy harvest.

In the capital city market the retail price of rice in June 2013 was 13.5 per cent higher compared to the level a year ago, reports the FAO.

The price of wheat flour, which is normally regulated, has been relatively stable since December 2012. In June 2013, it averaged LKR 98.6 (about USD 0.76) per kg, some 5.6 per cent higher than a year earlier.

Below average cereal harvest in 2012

The 2012 aggregate cereal production has been revised downwards to 4.08 million tonnes, similar to the previous five-year average.

In aggregate, the 2012 paddy production is estimated at 3.8 million tonnes, some 1.2 percent below the flood affected crop in 2011.

The decrease in production is mainly attributed to significant damages to second (Yala) season harvest, following the prolonged drought conditions between June and September.

The 2012 maize crop, is officially estimated to reach at 223 000 tonnes, pointing to an increase of 21 percent over the 2011 record harvest.

In response to the good production in 2012, the cereal import requirement in the 2013 marketing year (January/December) is forecast at 1.1 million tonnes, slightly lower than the previous year’s level.

As a result of bumper paddy harvest in recent years, the country is near self-sufficiency in rice. Since wheat is not produced, the country imports all of its consumption requirements, forecast for 2013 at normal level of about 1.1 million tonnes.

TheCropSite News Desk

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