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Last Updated : 2024-04-30 11:59:00
9 April 2024 09:21 am - 2 - {{hitsCtrl.values.hits}}
Colombo, April 9 (daily Mirror) - The Trade, Commerce, and Food Security Ministry is to issue price ranges on essential items to curb excessive profits by middlemen in the retail market.
After a meeting held at the ministry, Minister Nalin Fernando said that the increase in commodity prices was a result of the economic crisis and inflation.
In 2022, Sri Lanka faced the challenge of being one of the countries with the highest commodity prices globally, primarily due to soaring inflation.
"In 2019, a kilogram of wheat flour was priced at Rs. 85. By 2022, this price had escalated to Rs. 485, leading to a loaf of bread being sold for approximately Rs. 195 to Rs. 200.
Similarly, in 2019, a kilogram of dhal was sold for around Rs. 120. By 2022, this price had surged to Rs. 585 but has since dropped to Rs. 295," the minister said.
The depreciation of the dollar exchange rate, which initially contributed to the rise in commodity prices, has now stabilized.
The government's efforts to ensure an adequate supply of consumer goods have proven successful.
Minister Fernando highlighted that consumers can now purchase eggs within the price range of Rs. 35 to Rs. 40, reflecting the government's commitment to stabilizing prices and addressing shortages.
Ron hardy Tuesday, 09 April 2024 01:03 PM
Its the no sweat man in the middle that make the most profit and jacking the prices that majority middle-class poor families for poverty and starvation majority in our population are middle-class and poor people STRICT RULES GUIDLINES TO STOP COMPLETELY This kind of behaviour to make money
melville perera Wednesday, 10 April 2024 06:32 PM
the consumers' protection authority should be held responsible for their inability to understand marketing strategies The minister should gazette the prices of essental food items and those who resort to hiding stocks should be arrested and stocks confiscated . One wonders why the cosy CHAMBERS OF COMMERCE show no interest in such matters and being under semi govt. control. It is surprising that they hardly make a comment but come alive only when an int'l event is around the corner. In short they should have branches in all potential areas of production fo essential items and be a guide to the commercial markets theirein Surprisingly a Trincomalee exporter has to come to colombo to get a certificate of origin!!! Appears to be the only job it does
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