Sri Lankan traders complain that rice cannot be sold at controlled prices

Despite the government's action to impose a ceiling on rice prices starting at midnight last night, the decision seems to have no effect on the prevailing rice prices.
Both retail and wholesale traders, speaking to local electronic media, complained that they are unable to provide rice at the specified prices.
According to wholesale traders, the existing stocks were purchased at higher prices and therefore the controlled prices will incur a loss for them. Meanwhile, retailers said they can reduce the prices only when the wholesalers comply with the government’s orders.
A kilo of Samba was sold around 90 rupees, while red rice was sold around 80 rupees in the retail market.
Meanwhile, Agriculture Minister Hemakumara Nanayakkara refused the traders’ claims, saying that the present stocks had been purchased at very low prices. He said the traders are purposely trying to gain unfair profits by controlling the supply.
Also, Trade Minister Bandula Gunawardene wowed to take stern legal action against those traders not complying with price control. He requested consumers to complain about such traders to the Consumer Protection Bureau as soon as possible.