The price of wheat flour has been increased with effect from midnight yesterday.
Prima Flour has been increased by 8.50 thereby making the new price of a kilogram of flour 98.50
Meanwhile, Serendib Flour has been increased by 8.00 with the new price being 79.00
However, sources indicate that these companies had informed the Ministry of Consumer Affairs that they would be increasing prices by 12.00
Permission from the Consumer Affairs Authority is not required to raise the prices of flour.
Although the companies had informed that a 12.00 hike was on the cards, the hike was reduced based on market conditions.
However, the companies did warn that prices may be increased once again.
Meanwhile, we spoke to bakery owners to find out if the price hike in flour will affect the prices of bakery products.
A spokesperson for the Bakery Owners Association stated that with the rise in flour prices it is only natural that the prices of bakery products would also have to be raised.
However, the spokesperson noted that they are yet to make a final decision regarding this.