The Cabinet of Ministers has given its approval to import 200,000 metric tons of rice from Myanmar to stabilize the prices in the local market, says the Department of Government Information.

The proposal was tabled by Trade Minister Bandula Gunawardena.

Relevant rice shipment will be brought in through the State Various Corporation Limited, on the basis of a government-to-government agreement between Sri Lanka and Myanmar.

Accordingly, a metric ton of rice will be purchased for USD 460, the Government Information Department said.

Earlier, at its meeting held on 24 September, the Cabinet green-lighted the importation of 100,000 metric tons of rice, enabling to keep sufficient buffer stocks of rice without any shortage and to maintain a safe stock of rice.

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