Sri Lanka eases ceiling prices on sugar as currency depreciates


Colombo: Coronavirus (Covid-19) has impacted the many countries worldwide, and Sri Lanka is one of them. Srilankan currency is also facing the heat of Covid-19 as it has depreciated. Tackling the changed situation and facilitate the importers, Sri Lanka has withdrawn the ceiling imposed on the sugar prices including wholesale and retail market.

The ceiling imposed in 2018 was removed by the consumer affairs authority (CAA) on Tuesday.

According to the media reports, the importers will have to pay Rs 114 to Rs 120 to import one kg sugar. The ceiling prices were Rs 92 per kg at the wholesale market and Rs 100 at a retail market on unpacked sugar and Rs 105 on packaged sugar. The importers were at loss and were not interested in importing stocks.

The ministry had earlier imposed restrictions on the import of some products but has now relaxed some norms and allowed import of the items to meet domestic needs.

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