M.P.N.M Wickramasinghe, Secretary of the Ministry of Agriculture, announced plans to significantly reduce maize imports to 150,000 metric tons next year, down from the current 300,000 metric tons annually. This strategic move aims to curtail the substantial foreign exchange outflow associated with maize imports.
Key Highlights:
- Production Increase: Wickramasinghe emphasized the need to boost domestic maize production, stating that this year has seen an increase in the land allocated for maize cultivation.
- Foreign Exchange Savings: The reduction in imports is expected to help minimize the foreign exchange spent on maize, contributing positively to the country’s economy.
- Local Seed Production: The Ministry is also preparing a program to produce necessary seeds locally, eliminating the need for seed imports.
This initiative reflects Sri Lanka’s commitment to enhancing agricultural self-sufficiency while managing foreign exchange expenditures effectively.
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Last modified: October 23, 2024
