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Tuesday, 7 December 2010

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No X’mas price hikes

There will be no price increase in essential commodities during the festive season.

Co-operatives and Internal Trade Minister Johnston Fernando yesterday said they have taken all measures to prevent any price increase in prime and essential commodities.

Meanwhile, Wholesale Essential Commodities Importer’s Association Deputy President Nihal Seneviratna said they have enough stocks of essential commodities to last for months.” There is no reason for the prices to go up,” he said.

Minister Johnston Fernando said if there was any manifestation of a price increases, the ministry will control them within less than a day,” Fernando said.

He was speaking at a press conference held at the Internal Trade Ministry’s Sathosa Secretariat in Colombo where he was explaining how prices of essential commodities will be during the festive season.

The Minister emphasized that there will be no price increase in agriculture and poultry products.

Price of Samba rice will be kept under Rs.70. There will be no price increase in chicken and eggs.

The government has decided to maintain a stock of 200,000 metric tonnes of rice for two months to be released to the local market.

The Minister said the prices of big onions will also go down. The stocks of big onions have already arrived from Pakistan.

Admitting that prices of big onions have risen in the market, Minister Fernando said this was due to 40 percent of the local farmer’s onion produce being washed away by the recent floods.

We have arranged to import several commodities such as sugar, he said. We have discussed with the Ambassador of Brazil in Sri Lanka to import sugar. We also held discussions with the Indian Authorities to import sugar.

We believe that Indian authorities would approve sugar exports. If that happens sugar prices will also go down, the Minister said.

”One must not forget that sugar prices has increased in the world market. But we will maintain a stabilized price for sugar,” he said.

He said although some have complained about coconuts being sold at Rs. 50 in the market, Laksathosa sells them at Rs 29 each. This is in keeping with the directions of President Mahinda Rajapaksa.

Retail traders cannot sell coconuts at this rate because a coconut is sold at Rs 35 by the producers.

Stating that he was aware that egg prices have increased from last week, he said the Ministry has placed action to import eggs and chicken.

He said if there is a need, the government will go as far as to remove taxes to ensure that essential commodity prices are maintained without increase. He said the Ministry will take steps to broadcast and telecast the prices of Laksothasa commodities sold at their Sathosa outlets from next week to enable the consumers to buy them at lower rates.

”We are not going to control prices because we do not want to make it too hard on private retailers. In the case that we introduce a price control the entire trade can collapse,” he pointed out.

” We want private super market complexes to be in the system. The people like them,” he said.

However, the Ministry will introduce mini Co-op City outlets in rural areas to strengthen our retail network of Lak Sathosa.

Fernando said they do not intend reducing rice prices too much because they have to protect the local farmer.

The price of Samba has not gone higher than Rs.70. Lak Sathosa has been selling Samba at Rs. 63.50 when some media establishments were highlighting that prices of Samba rice was between Rs. 70 to Rs.90.

This kind of publicity encourages private retailers to sell them at higher costs There are over 1500 Laksathosa, Co-op City and Mini-Co-op city outlets in the country where people can buy Samba rice at less than Rs 70.

Even now the Laksathosa is selling Samba rice at Rs.63.50. White Nadu rice is sold at Rs.53, Red Nadu at Rs. 58, Rathu Kekulu at Rs. 53.50, the Minister said.

We cannot help if the consumers want to spend more money on them at other places. We cannot give them an alternative, he added.

 

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