Sri Lanka slaps price controls on onions
ECONOMYNEXT – Sri Lanka government has slapped price controls on imported Big Onions effective February 23, 2020, the Sri Lanka Consumer Affairs Authority said in a statement.
By the order of the Consumer affairs authority, the maximum retail price for one kilogram of Big Onions is 190 rupees.
“Price of imported Big Onions was showing an unreasonable increase within the past few days and it went to 300 rupees per kilogram by February 22, 2020,” the statement said.
The Consumers Affairs Authority claimed that prices were increased three times to the ‘real value’ in the market by the importers.
“After the release of the gazette the prices went down to 160 rupees per kilogram and there was no shortage of Onions as well,” the agency claimed.
Big Onions will be sold for 175 rupees per kilogram at Lanka Sathosa.
Consumer Affairs Authority said it will continue ‘further investigations’. (Colombo/Feb 25/2020)
-Reported by Chanka Jayasinghe
Kithmina Hewage- Institute of Policy Studies