Margarine to be imported via Indian credit line – Trade Minister

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Minister of Trade, Commerce and Food Security, Nalin Fernando informed bakery owners that he will look to import stocks of margarine via the Indian credit line.

The Minister met bakery representatives for a discussion at his Ministry premises yesterday (23). Issuing a media release the Ministry stated the Minister had given a hearing to grievances of bakery representatives during the meeting.

Bakery owners had pointed out that prices of several ingredients used for bakery products such as palm oil, margarine and flour had increased considerably in the recent past dealing a crippling blow to the industry.

They said due to the prevailing situation, most bakeries had shut down with bakery owners being unable to sustain the industry.