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Minister & relative involved in concealing egg stocks?

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Doubts are raised after the Sri Lanka State Trading Corporation (STC) announced that around 06 million imported eggs will be released into the market today and tomorrow (Dec. 13 and 14).

The decision comes in a backdrop where the price of an egg had increased upto Rs. 60 in the recent days.

Chairman of the STC – Mr. Asiri Walisundara says that the measure is being implemented on the directives of Trade Minister – Nalin Fernando, in a bid to control market prices and that consumers are able to purchase eggs at Sathosa outlets.

Meanwhile, News1st has reported that Minister Nalin Fernando himself has admitted that egg prices have increased. He had attributed the price hike to an artificial shortage created by concealing stocks.

The Minister has said that the Consumer Affairs Authority has been informed to inspect such places.

Meanwhile, leader of the National Consumer Front – Asela Sampath says that the biggest cool rooms in the country are located in Ja-Ela and are owned by a relative of the Trade Minister.

Noting that the relative is a major deciding force behind egg prices, Mr. Sampath questions whether it is the minister himself who had empowered his relative in this manner.

Mr. Sampath also alleges that it is the minister who had concealed stocks and then  created the market shortage and the subsequent price hike through his relative.

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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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