The country's major rice-producing areas are experiencing severe drought which could affect production in the second half of this year.
The Ministry of Finance and Planning said in a statement that the export ban of paddy and available rice will ensure more than required rice supply for the balance period at stable prices at the current level, stabilizing the cost of living as well.
"This ban will ensure not only food security is guaranteed but also that the country will not require to import rice by spending foreign exchange," the Ministry said.
However, the ban will not be applicable to rice varieties exclusively process for the purpose of export markets.
Sri Lanka has a rice stock of 1.26 million metric tons, and exports around 10,000 tons of rice annually to countries in the Middle East.
