No price increase on biscuits, ice cream, chocolate until May – industry assures

Colombo, March 27 (Daily Mirror) - The Sri Lankan Confectionery Owners’ Association has assured the government that prices of biscuits, ice cream, chocolate and other confectionery products will not be increased until May, following discussions with Trade Minister Wasantha Samarasinghe.

The assurance was given during a meeting held yesterday (26), convened by the Minister to discuss the impact of the current global situation, particularly regional conflicts in the Middle East, on the confectionery industry and its potential effect on consumers.

During the meeting, the Minister said that consumers are already burdened and cannot afford further increases in the prices of essential goods. He noted that the government aims to manage the impact of global developments on the industry while safeguarding both producers and consumers.

He further said that the government is prepared to intervene to address challenges faced by the sector and emphasised that consumer welfare must remain a priority despite ongoing difficulties.

Speaking at the discussion, President of the Sri Lankan Confectionery Owners’ Association S.M.D. Suriyakumara said the industry employs around 50,000 people directly and supports over 500,000 indirectly. He noted that the sector is largely self-sufficient, producing about 95% of local market demand, and has invested over Rs. 15 billion in technology over the past decade.

He added that the industry continues to face challenges due to rising utility costs, including electricity and gas, as well as the high cost of imported raw materials. Despite these pressures, he said prices had not been increased since the COVID-19 period and businesses are currently operating on limited profit margins.

Suriyakumara said the industry is currently in its peak season, with production and distribution underway for the Sinhala and Tamil New Year, and the association has decided to maintain current prices until the end of the festive period.

However, he warned that price revisions may be considered after May if utility and raw material costs continue to rise.

The association also highlighted delays in clearing raw materials from customs and additional shipping charges as ongoing concerns. It requested government support to ensure uninterrupted fuel supply for distribution during the New Year period and to resolve issues in the current system.