Bakeries to up prices
By Naalir Jamaldeen
The All Ceylon Bakery Owners Association (ACBOA) stated that they would be compelled to increase the price of bakery products by Rs 10 in the coming weeks, mainly due to the recently imposed import taxes on palm oil and margarine.
ACBOA President K. Jayawardena said that the decision had been taken after the imposition of an import duty of Rs 250 per litre of palm oil which has resulted in the price of a litre exceeding Rs 500.
The bakery owners pointed out that the price of margarine has also exceeded in Rs. 600 and lamented that a Rs400 import duty has been imposed on a kilogram of margarine.
Jayawardena said that it will cost Rs 1,000 to import one kilo of margarine and due to this it has been decided to increase the price of bakery products by Rs 10.