As a direct result of the increase in wheat flour prices, the All Ceylon Bakery Owners' Association announces that the price of a 450g loaf of bread, other bakery products, and short eats will be increased by Rs. 5 from midnight today (30).
This decision was announced at a press conference held this morning at the Association's headquarters in Raddolugama. The official announcement was made by Mr. N. K. Jayawardena, President of the All Ceylon Bakery Owners' Association, following a decision taken by its executive committee.
The main reason for this increase in bakery product prices is that companies selling wheat flour in Sri Lanka increased the price of a kilogram of flour by Rs. 13 from midnight on October 20.
Regarding the situation that arose with the increase in flour prices, the Bakery Owners' Association had taken steps to inform Ms. Samantha Karunaratne, the Acting Director General of the Consumer Affairs Authority. She had pointed out that increasing wheat flour prices without informing the Authority was an inappropriate action. Furthermore, she had requested bakery owners to refrain from increasing the prices of bakery products until the Minister of Trade, who is currently abroad, returns to the island.
Agreeing to the government's request, the Bakery Owners' Association refrained from increasing prices for a period of 10 days. The President stated that discussions on this matter were also held during that period with the participation of the Minister. However, due to the increase in flour prices, the Association faced strong pressure from bakery owners across the island to proportionally increase the prices of their products.
Mr. Jayawardena further emphasized that it is difficult to expect a reduction in wheat flour prices in the future due to the ongoing conflicts in the Middle East and the unfavorable global political situation.
Accordingly, he stated that, albeit with regret, the Association decided to increase the price of bread and other short eats by Rs. 5 from midnight today.
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