Sri Lanka to introduce control price for fertilizer

by Zulfick Farzan 31-10-2023 | 11:38 AM

COLOMBO (News 1st); Minister of Agriculture and Plantation Industries Mahinda Amaraweera said that a control price will be imposed for fertilizer, if the need arises.

The minister said that if companies involved in importing fertilizer decide to go for a price hike, a control price will be introduced.

The minister said that the Cabinet of Ministers had already granted approval for the proposal to introduce a control price for fertilizer.

Minister of Agriculture and Plantation Industries Mahinda Amaraweera also said that the allegation made by certain individuals citing a shortage of urea fertilizer is false.

The Agriculture Ministry said that the state and private sector fertilizer companies have sufficient stocks of fertilizer for the Maha season.

It added that the government will be depositing a sum of Rs. 15,000/- each into the accounts of farmers to procure fertilizer per hectare.

In addition, the state-owned fertilizer companies will be selling a 50 kg pack of urea fertilizer for Rs. 9,000/-, while the private sector has reduced the price of the same product to Rs. 8,500/-.