The Lanka Confectionery Manufacturers Association (LCMA) has announced that prices of biscuits, ice cream, chocolate, and other confectionery products will not be increased until May.
This was stated by representatives of the association during a discussion held yesterday (26) with the Minister of Trade, Commerce, Food Security and Co-operative Development, Wasantha Samarasinghe.
The meeting was convened to discuss the impact of the ongoing Middle East conflict on the confectionery industry in the country and how decisions taken by owners to manage the situation could affect consumers.
During the discussion, the Minister noted that the rising cost of consumer goods has already become increasingly burdensome for consumers and emphasized the need to minimize the impact on them while safeguarding the interests of those in the industry.
Accordingly, the President of the LCMA, S.M.D. Suriyakumara stated that although the cost of confectionery ingredients has increased over time, confectionery product prices have not been raised even after the COVID-19 period.
However, he noted that the industry is operating with limited profits, with March, April, November, and December being peak periods for the confectionery industry.
Suriyakumara further stated that confectionery products are already being distributed for the upcoming Sinhala and Tamil New Year, and that regardless of the prevailing challenges, a decision has been made not to increase prices until the end of the festive season.
However, he added that they would have to resort to some price revision after May if the costs of gas, electricity, and ingredients continue to rise, though no increase is expected until then.
Suriyakumara also highlighted delays in clearing imported ingredients through Sri Lanka Customs and noted that additional shipping charges have been incurred.
Moreover, he requested the Minister to introduce a suitable system to ensure adequate fuel supply for the distribution of confectionery products and to address issues in the current system.
