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Politics : Libertarian Discussion Forum
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From: Glenn Petersen1/29/2022 12:33:07 PM
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Update on the Sri Lanka Organic Farming Disaster

by Alex Tabarrok
Marginal Revolution
January 29, 2022 at 7:25 am

In Organic Disaster I wrote:

Sri Lanka’s President abruptly banned chemical fertilizers earlier this year in a bid to become 100% organic. The ban has resulted in reduced production and soaring prices that, together with declining tourism and the pandemic, have created an economic crisis.

Here is the latest update:

Sri Lanka has announced compensation for more than a million rice farmers whose crops failed under a botched scheme to establish the world’s first 100-percent organic farming nation.

…The government will pay 40,000 million rupees ($200m) to farmers whose harvests were affected by the chemical fertiliser ban, agriculture minister Mahindananda Aluthgamage said on Tuesday.

“We are providing compensation to rice farmers whose crops were destroyed,” he told reporters. “We will also compensate those whose yields suffered without proper fertiliser.”

The government will spend another $149m on a price subsidy for rice farmers, he added.

About a third of Sri Lanka’s agricultural land was left dormant last year because of the import ban.

A good example of central planning in action.

Update on the Sri Lanka Organic Farming Disaster - Marginal REVOLUTION
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