Sri Lanka on Tuesday declared a state of emergency over food shortages as private banks ran out of foreign exchange to finance imports.

With the country suffering a hard-hitting economic crisis, President Gotabaya Rajapaksa said he ordered emergency regulations to counter the hoarding of sugar, rice and other essential foods.

Rajapaksa has named a top army officer as "Commissioner General of Essential Services to coordinate the supply of paddy, rice, sugar and other consumer goods".

The move followed sharp price rises for sugar, rice, onions and potatoes, while long queues have formed outside stores because of shortages of milk powder, kerosene oil and cooking gas.