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Cake prices & demand up!

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The All Island Bakery Owners Association says the price of a 1kg cake has increased above Rs.1,500 due to the shortage of eggs and the price increase of eggs.

President of the Association NK Jayawardena said a 1kg cake a month ago was sold at Rs.1,100 and has today increased to Rs.1,500, while the demand for cake during the festive season has increased by 25%.

He noted that small scale bakery owners have resorted to not baking cakes due to the associated cost.

Jayawardena said despite egg manufacturers warning of a possible egg shortage during the festive season, they have failed to meet the demand for eggs during this season.

(newsradio.lk)

(Except for the headline, this story, originally published by newsradio.lk has not been edited by SLM staff)

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No justification for coconut oil price hike – Coconut Development Authority

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The Coconut Development Authority has stated that there is no valid reason for a price increase of coconut oil in the local market.

CDA chairman – Prof. Roshan Perera has emphasized that there has been no tax hike on imported coconut oil.
Given the sufficient supply of coconut oil for domestic consumption, Prof. Perera asserted that any price increase is unjustifiable.

Additionally, a new regulatory program is being planned to control and stabilize coconut oil prices in the market, he added.

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Coconut oil price upped

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The price of a litre of coconut oil has been increased by more than Rs. 100, the National Consumer Front (NCF) has said.

NCF Chairman Asela Sampath said that the price of a litre of coconut oil has been increased by between Rs. 180 and Rs. 200. 

Accordingly, the current retail price of a coconut oil litre is Rs. 550.

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Registration compulsory for all money changers 

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The Central Bank has issued a notice making it compulsory for all money exchange institutions to be registered with the Central Bank and regulated by it. 

The CB order is in effect from 3 June 2024. 

The Central Bank states that all money changers who are currently not registered will now receive the opportunity to provide such services in a systematic and regulated manner. 

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