Bread price goes back down

Friday, 19 July 2019

The Bakery Owners’ Association yesterday said that it has decided to withdraw the price revision of a loaf of bread announced on Wednesday. It said the decision to increase the price of a loaf of 450g bread by Rs. 5 from Wednesday has been withdrawn and the price will be same as previous.The price increase was announced after two wheat flour companies increased the price of wheat flour by about Rs.7 per kilo. However following negotiations the price increase was suspended.

Economic Reforms and Public Distribution Non-Cabinet Minister Dr. Harsha de Silva Tweeted saying, “My discussions on wheat flour with Serendib Flour Mills and Prima Ceylon as convener of Cabinet Committee on Cost of Living were successful. They informed us that they suspended the price increase. The requested increase will be discussed at next week’s Cost of Living meeting and decided after analysis of data. We need solutions that are equitable both to the consumers and the industry. Best is a price formula that keeps retail price stable with tax and subsidy fund to cushion