The prices of all bakery products might be increased during the upcoming Sinhala/Tamil New Year season due to the current taxes and price revisions, All Ceylon Bakery Owners' Association (ACBOA) President N.K. Jayawardene said.
He told the Daily Mirror that due to restriction on imports, excessive taxes and the increase in prices of ingredients are the reasons for the price hike.
The bakery owners are faced with an uphill task in running the bakery industry due to the price increase of a litre of imported palm oil, Mr. Jayawardene lamented.
He said in order to run the bakery industry smoothly, the government should take immediate action to reduce the import levy on palm oil.
"Palm oil is a key ingredient for the bakery industry, as it is utilised to make margarine which in turn being used in the bakery industry," Mr. Jayawardene added. (Chaturanga Samarawickrama)