No need for wheat flour hike, control – Trade Minister

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Minister of Trade Nalin Fernando said there is no need to raise the price of wheat flour because Sri Lanka is due to receive flour in the future and that it is not practical to impose a control price at this time.

The Minister instructed the officials to compile a report on local wheat consumption for the next six-month period. He also met with the All Ceylon Bakeries Association.

During a discussion last week with two large-scale wheat flour production companies, the companies stated that they have enough reserves for a month’s worth of production and that stocks ordered from Turkey and Dubai will be delivered around 15 September.

The Minister said the companies can be requested to release needed quantities of wheat flour to the market for future consumption.

He also stated that a request for increased wheat flour production has already been made to large-scale production companies.

The Minister was also drawn to the issue of rising margarine prices for bakery products. The Ministry stated that steps will be taken to study the prices of major companies that import margarine into Sri Lanka via the Consumer Affairs Authority.

By  Thameenah Razeek