Sri Lanka, May 26 -- The Cabinet of Ministers has granted approval to proceed with the sale of paddy stocks currently held by the Paddy Marketing Board.

The approval has been granted based on a proposal submitted by the Minister of Agriculture, Livestock, Lands and Irrigation.

At present, the Paddy Marketing Board has accumulated nearly 115,000 metric tons of paddy purchased from farmers and stored in its warehouses across the country, according to a statement issued by the Department of Government Information.

According to the government, the move is intended to create storage capacity and generate funds ahead of the upcoming Yala season, during which new paddy procurement from farmers will be required.

The sale of the stocks will be...