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Urea price to drop in mid June

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The price of Urea fertilizer is to be reduced.

According to Minister of Agriculture Mahinda Amaraweera, the price of a 50kg Urea fertilizer bag sold to farmers by the two state-owned fertilizer companies will be priced at Rs. 9,000 from June 15.

“A bag of urea is sold by the private sector at Rs. 42,000 during the last yala season, has now been brought down by the private sector to Rs. 11,000. The reason for this was that the government took steps to provide a bag of urea to the farmers at a minimum price of Rs. 10,000,” the minister said.

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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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