Colombo (No. 1 in the news); All Ceylon Bakery Owners Association has announced that it will not choose to increase the price of its rest.
The announcement comes after a meeting with the Commerce Minister who noted that the two major flour companies have agreed to provide sufficient stock.
A shortage of flour in the domestic market of Sri Lanka caused a significant price increase, with a 50 kg pack of flour costing Rs. Soaring to 13,500/- Rs. 20,000/- in a few days.
Over the weekend, the All Ceylon Bakery Owners Association announced that the price of a loaf of bread should be fixed at around Rs if flour is purchased at this price. 300/-.
All Ceylon Bakery Owners Association met with Trade Minister Narin Fernando on Monday (5) to discuss the matter.
Prima Ceylon Private Limited told News First that it has taken no action to increase the price of flour.
Prima Ceylon Private Limited added that the price increase in the market could be attributed to the operations of the Opetta-based flour importer.
However, Prima Ceylon Private Limited is undercapacity due to the dollar crisis.
The company added that it finds it very difficult to raise dollars even though it can buy raw materials directly from its Singapore-based parent company.
On Monday (5), News 1st visited the Petah Wholesale Market to investigate the situation and reported that the local market was running out of flour.
“Prima and 7-Star were suppliers in the market. 7-Star flour was in demand. We unloaded a large inventory of 7-Star flour. We’ve released the bags, so there’s a shortage,” said one trader. told News 1st.
Sri Lanka’s major flour companies have agreed to release buffer stocks to meet market demand until ordered stocks are imported into the country in the coming weeks, Trade Minister Narin Fernando told News First. Said he did
He added that the government will help flour importers raise funds to carry out their activities.
The minister added that India’s decision to suspend wheat exports was also due to a shortage of flour in the local market.
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https://www.newsfirst.lk/2022/09/05/sri-lanka-bakery-owners-decide-against-increasing-bread-prices/ The bakery owner has decided against raising the price of bread