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Prices of sugar-based products continue to rise
View(s):Although the wholesale price of sugar has stabilised around Rs. 102 after the Government raised the commodity levy by ten rupees last week, the prices of sugar-based products continue to rise.
Retail sugar prices increased by Rs 5 to 6 a kilogram last week, allowing bakers, grocers and tea boutique owners to increase the prices of milk tea, plain tea and sugar-based products in a haphazard manner.Bakery Owners Association President N.K. Jayawardena said though they had not taken a decision on price increases, they had little control over bakers who were not members of the association.
On Wednesday a kilogramme of sugar in 50 kg bulk was sold at Rs 103 in a wholesale shop in Pettah although last week it was Rs 102. However Pettah traders claimed the prices of sugar fluctuated daily around this price, while world market prices remained low. A retail trader in Rajagiriya said that after the tax hike, he was selling sugar at Rs 110. Prior to the tax hike, it was Rs. 105.