Anyone who hoards rice or sells it at prices higher than those stipulated by the government would be liable to a fine of Rs 100,000 or a six month jail term or both, the Consumer Affairs Authority (CAA), said yesterday.

Rice stocks seized would be confiscated and auctioned. Proceeds will go to the CAA fund.

The CAA today (21) will commence its islandwide raids to arrest errant rice traders. The authority has deployed a large number of flying squads that will visit cities and villages in disguise to hunt for traders overpricing and hoarding rice.