India starts supplying rice to Sri Lanka in first batch of food aid

Sri Lankaan island nation of 22 million people in the Indian Ocean, is struggling to pay for essential imports after the country’s foreign exchange reserves have shrunk by as much as 70 percent in the past two years, leading to a currency crunch. currency depreciated, while trying to seek help from global lending institutions.

The aforementioned shipment of rice came before an important festival in Sri Lanka.

Fuel was in short supply, food prices were soaring, and protests broke out. Sri Lanka’s government prepares for talks with the International Monetary Fund amid concerns about the country’s ability to repay its foreign debt.

India, the world’s largest rice exporter, in March agreed to provide a $1 billion line of credit to Sri Lanka to help alleviate a severe shortage of essential commodities, including fuel. , food and medicine.

The people of Sri Lanka fell into a situation of lack of essential goods, and electricity was cut off continuously. (Photo: AP)

Rice shipments can help Colombo lower the price of rice, which has doubled in the past year, making it even more difficult Economic Crisis aggravated.

BV Krishna Rao, Managing Director of Pattabhi Agro Foods, which is supplying rice to Sri Lanka under the India Credit Agreement, said: “Rice shipments have started in southern ports. First of all, we have to start shipping rice in southern ports. I am loading containers for quick shipments and loading will begin in the next few days.”

This shipment of 40,000 tons of rice is among the 300,000 tons that India will supply to Sri Lanka in the next few months.

India is likely to start shipping other essential commodities such as sugar and wheat in the coming weeks.

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