Jul 04, 2020

Control price on Turmeric becomes a joke! Featured

Colombo wholesalers say it is a joke to impose a control price on turmeric powder without imposing a control price on turmeric pieces.

Also, sources from the Customs say that a probe has been initiated after 56 containers of turmeric were imported without an import permit. 

According to market sources, one container contains 18,000 kilos of turmeric, and if these stocks entered the market, it would immediately cause a price drop.

It is said that some Customs officials are withholding this stock to increase the demand and make things more lucrative for the parties who have imported these stocks.

The Consumer Affairs Authority (CAA) recently imposed a control price of 750 rupees per kilogram of turmeric powder, adding that those who sold turmeric powder at a higher price would be arrested.

However, in the absence of a control price, a kilo of turmeric pieces is being sold in the market for Rs. 2,000 - Rs. 2,500.

Turmeric is usually imported as well as sold by local farmers as pieces. Therefore, traders are compelled to grind them and sell a kilo at a price between Rs. 3,000 - 3,500.

Therefore, sources point out that the rules of the CAA does not necessarily help to control market prices.