The Sri Lankan Finance Ministry has increased the minimum guaranteed price of the government for big onions from Rs 60 to Rs 80 per kilo. According to a statement by the Ministry, big onion farmers were unable to get a fair price in the recent past, due to the drop in large onion prices.
“Therefore, the big onion yields declined and a large amount of foreign exchange was spent on importing big onions,” it said.
Considering these facts, the proposal made by Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Finance to increase the Government’s guaranteed price for big onions and encourage farmers received the cabinet approval on February 27.
Also, a new program will be launched to increase the cultivation of big onion to be implemented jointly by the Ministry of Mahaweli, Agriculture, Irrigation and Rural Development together with the Ministry of Finance, Economy and Policy Development. The progress of the program will be reviewed by the Cabinet of Ministers every six months.
Also, according to economynext.com, the Ministry said a maximum retail price of Rs 190 per kilogram of big onions has been fixed as a measure for protecting the consumers.
[ Rs100 = €0.49 ]