Price of a loaf of bread price may increase by Rs. 5

The Serendib Flour Mills (SFML) (Pvt.) Ltd announced the increase of kilo of wheat flour by Ra.8 with effect from Saturday (16) night, an SFML senior official said.

The company has already informed in this regard its agents countrywide.

The official said the decision was taken due to uncontrollable external factors caused to the flour industry for a long time.

It said the rapid depreciation of the Sri Lankan Rupee (LKR) against the US Dollar (USD) was the main reason.

“Flour mill companies decided to increase the price of their product, but after criticism that they had increased the prices on the eve of the Presidential Election they had withdrawn the price hike,”’ he said.

Meanwhile, the All Ceylon Bakery Owner’s Association President N.K.

Jayawardena said due to the increase of wheat flour prices the price of a loaf of bread would have to be increased by Rs.5 after receiving written assurances from the two main wheat flour companies.

Speaking to the Daily Mirror he said the two companies had increased the price of a kilogramme of wheat flour on three previous occasions.

“However due to the government’s intervention, the price was not increased. Therefore, we could not take a stern decision on increasing bread prices so far,” he said.

“The price of wheat flour in the local market had already been increased by Rs.8 per kilogramme,” Jayawardena said.

The wholesale and retail prices of a kilogramme of wheat flour being sold in the local market is between Rs. 98 and Rs.110.