The recent increase in sugar prices, attributed to higher taxes, prompted the government to impose a control price on sugar. Minister of State for Finance, Ranjith Siyambalapitiya, reassured the public on November 19 that there is no imminent shortage, citing a stockpile of 19,000 metric tons of sugar in the country.
To explore solutions to the sugar supply crisis, Trade Minister Naleen Fernando conducted a special discussion with sugar importers on November 20.
Minister Fernando announced that the government plans to take over the stocks of sugar, which were cleared from the port before the sugar import tax was hiked from 25 cents to Rs.50, and to distribute them via Lanka Sathosa to selected supermarkets and cooperatives, to be sold at Rs.275 per kilogram.
This move is expected to alleviate concerns about sugar shortages and ensure a stable supply of sugar during the upcoming festive season.
The government's intervention aims to address market uncertainties and ensure that consumers have access to sugar at reasonable prices.