Sri Lanka : Sri Lanka consumer protection agency warns errant traders raising price of sugar

Sri Lanka consumer protection agency warns errant traders raising price of sugar - price of sugar

Source: http://www.colombopage.com


Sri Lanka’s consumer protection agency, Consumer Affairs Authority (CAA) warned the errant traders that the agency has strengthened the detection and will take stern action against the errant traders who raise price of sugar.

Releasing a statement the CAA said as white sugar falls under the category of essential goods, permission must be obtained from the authority before any increase in price.

Accordingly the statement said any price hike pertaining to white sugar violates CAA policy.

The Consumer Affairs Authority has also taken steps to inform importers of essential goods of the regulation.

The government on Wednesday increased the Special Commodity Levy on one kilogram of imported to Rs 23.00 from Rs 13.00, but said that there is no impact on the selling price of sugar in the market as the world market price on sugar is continuously declining.

The Government said it intends to pass the benefit of the increased levy to the farmers engaged in sugarcane cultivation.