Sri Lankan government to set up temperature controlled storage facility to reduce volatility in supplies and prices of perishable produce
The Sri Lankan government has reportedly decided to construct a temperature controlled storage facility funded largely by an Indian grant in order to help reduce volatility in supplies and prices of perishable farm produce.
The Government Information Department has said that the cold storage facility in Dambulla, which is a key farming centre in the country, at an estimated to cost of Rs. 475 million.
According to reports, the government of India, which has one of the largest refrigerated warehouse capacities worldwide, with 131 million cubic meters in cold stores, has agreed to provide Rs.300 million as a grant for the Dambulla unit.
The Information Department statement has said the Cabinet of Ministers has approved a proposal for the facility presented by Prime Minister Ranil Wickremesinghe, in his capacity as the Minister of National Policies and Economic Affairs.
The proposal has reportedly said the cold storage facility will help stabilize market prices of fruits and vegetables by ensuring proper storage and steady supply, benefiting both farmers and consumers alike.
Also, the facility will help keep agri-produce for a long period and to allow constant release of produce to the market throughout the year.
OSL take:
The government of Sri Lanka is currently engaged in looking at modernizing the country’s agriculture sector to meet the growing demands through the introduction of new cultivation methods and crops as well as proper storage mechanisms to minimize wastage and assist in the maintaining of prices. The proposed temperature controlled storage facility is one such move. Therefore, foreign companies engaged in providing agriculture solutions could look at venturing in to Sri Lanka’s agriculture industry.
| Article Code : | VBS/AT/27082018/Z_6 |