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Alec Stapp: Sri Lanka crop policy in 2021 led to 20% rice drop and $425 million tea loss

Alec Stapp: Sri Lanka crop policy in 2021 led to 20% rice drop and $425 million tea loss
Sri Lanka crop policy triggers losses

Sri Lanka experienced significant economic setbacks in 2021 following changes to its crop policy. Alec Stapp reports that domestic rice production fell by 20% within six months, and 500,000 people were pushed back into poverty. Rice prices surged by 50%. In addition, a drop in tea production alone resulted in $425 million in economic losses.

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