Sri Lanka’s government to import sugar from India to stabilise commodity prices

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Sri Lanka’s government has decided to import sugar from India to cool down the rising commodity prices in the country. Currently, sugar import is now under licence and requires prior consent from the Controller of Imports and Exports.

On recommendations of Trade Minister Bandula Gunawardena, the cabinet on Monday allowed importing 2,500 tonnes of sugar per month. And also it has been decided to retail through State agencies, Sathosa and co-operative society outlets.

During a cabinet meeting, the increasing price of sugar was discussed and planned measures to low down the burden on consumers.

Earlier, State Minister of Minor Export Crops Janaka Wakkumbura had stated that Sri Lanka may suspend sugar imports to prevent profiteering by importers who had stocks for more than six months in case of any increase of import tax on sugar.

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