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Egg prices on the rise again

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Egg prices in the local market have been increased despite the festive season being just around the corner.

Although the price of an white egg was around Rs. 40 – 42 in the last week of November, it rose to Rs. 44 – 46 last week before increasing again to Rs. 55 – 60.

The price of a white egg and brown egg at the Narahenpita Economic Centre is priced at Rs. 50 and Rs. 52 respectively.

It is speculated that the prices will continue to spike, resulting in the price hike of bakery and confectionary products.

Experts in the field allege that Trade Minister – Nalin Fernando’s short sighted decisions are to be blamed for his.

The minister had recently halted egg imports from India, stating that the local egg industry has been stabilized.

However, experts say that the minister had initially imported eggs when the demand was low and had left the local market to depend entirely on the local market when the demand was at its peak, to secure another future chance to import eggs from India.

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CSE to close early for LG polls

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The Colombo Stock Exchange (CSE) has announced that trading hours will be shortened on May 06, in view of the Local Government Elections.

On that day, trading, which commences at 9.30am, will conclude at 12:30pm – two hours earlier than the usual closing time of 2:30pm.

The CSE stated that the decision was made to accommodate the convenience of investors, staff, and other market participants during the election day.

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Coconut prices soar

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Consumers are struggling due to a sharp rise in coconut prices across the country.

Traders say large coconuts now sell for Rs.200 – 250, while smaller ones range from Rs.175 – 190.

The steep price hike is straining household budgets and impacting small businesses that depend on coconuts for daily food preparation.

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More restrictions on vehicle imports eased

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The Ministry of Finance has issued a new gazette notification easing several more restrictions on vehicle imports, with effect from April 29, 2025.

The directive, issued by President Anura Kumara Dissanayake in his capacity as the Minister of Finance, Planning and Economic Development, paves the way for the clearance of several types of vehicles that had been stranded at ports due to previous restrictions.

Commenting on the development, Chairman of the Sri Lanka Vehicle Importers’ Association Prasad Manage said: “We’ve been unable to clear these vehicles for the past one and a half to two months. With the new gazette, we can now release hybrid models such as the Toyota Raize and the Nissan X-TRAIL. Other hybrid vehicles using similar technology have also been approved for clearance.”

In a related move, the government has also lifted the ban on the import of unregistered new motorcycles. A separate gazette notification has been issued allowing the import of new motorcycles under a licensed import scheme.

(adaderana.lk)

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

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