Sri Lanka: Grain and Feed Annual
FAS Colombo (Post) forecast’s Sri Lanka’s market year (MY) 2023/2024 (October-September) rice production (milled) at 3.16 million metric tons (MMT), with a planted area of 1 million hectares. Improved production volumes are premised on the country's economic recovery, facilitated through an International Monetary Fund (IMF) Extended Fund Facility (EFF) arrangement of $2.9 billion. The IMF loan will help shore up usable foreign reserves and increase it to $2.9 billion by-end of 2023. This will help provide the foreign currency liquidity needed to meet imports of medicines, food, and fertilizers, that were curtailed in mid-2022. Rice production partially recovered in MY 2022/2023 due to some limited imports of fertilizers, primarily urea in 2022. Sri Lanka does not produce wheat. With no domestic production of its own, Sri Lanka imports wheat for flour milling. MY 2023/2024 (July-June) wheat consumption forecast at 1.18 MMT, is up 54,000 MT, from the MY 2022/2023 estimate of 1.12 MMT.
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