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If chicken was to be imported, Rodesha would’ve gotten tender?

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Trade Minister Nalin Fernando, who boasted that chicken can be imported from India for Rs.850, and the ministry officials have realised that the production cost of a kilogram of local chicken is over Rs.1,000, internal ministry sources said.

This has been revealed during a recent discussion held among the minister, officials and local poultry businessmen.

Later, as usual, the minister had placed the blame on the officials for making wrong calculations, it was reported.

The local poultry business men have requested that they be given import licenses if chicken is to be imported based on the minister’s proposal. The minister has withdrawn the proposal due to this request.

Meanwhile, it was reported that Rohan Fernando’s Rodesha Group of Companies which supplies chicken to military bases was to get the tender if chicken is to be imported from India.

Rodesha is the company with the largest freezer storage facilities.

Meanwhile, the Poultry Producers Association has agreed to sell a kilo of chicken with skin at a price of Rs.1,250 from September 02.

Had the producers failed to come to this decision, there was a risk of further decrease in government revenue due to the import of chicken from India.

At present, poultry producers indirectly pay almost Rs.216 as indirect taxes when producing one kilo of chicken.

However, such a large amount cannot be levied as a tax when importing chicken.

Following the import of eggs from India, the special commodity tax of Rs.50 imposed by the Ministry of Finance on an egg was reduced to one rupee by the Sri Lanka State Trading (General) Corporation Limited from February 21.

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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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