Sugar stocks adequate for 17 months | Daily News

Sugar stocks adequate for 17 months

Raids on sugar hoarders to continue

The Consumer Affairs Authority (CAA) yesterday said that the sugar stocks imported to the country from October 14 2020 to June 30, 2021 are sufficient for the country for 17 months.

However 584,000 MT of sugar has been imported to the country from October 14, 2020 to June 30, 2021 even though the country’s sugar requirement a month is only 35,000 MT.

The import tax on a kilo of sugar was reduced to 25 cents from Rs.50 from October 14 last year with the intention of providing relief to consumers. The country had a stock of 88,878 Metric Tonnes (MT) of sugar by October 14 last year.

Statistics available at the Authority show that the volume of sugar imported to the country is much higher than its annual requirement.

It is evident that attempts were being made to sell sugar at higher rates by creating an artificial shortage in the market when ample stocks are available in the country with a view of inconveniencing the consumers during the present pandemic situation.

Meanwhile the CAA yesterday recovered a large stock of sugar weighing up to 170,000 kgs from a warehouse in Uyandana in the Kurunegala district.

CAA officials seized this stock during a raid conducted in the area on a tip off. The CAA will continue raiding warehouses where sugar has been hoarded with the objective of creating an artificial shortage in the market to obtain an undue advantage.

The Government has refuted reports especially in the foreign media that Sri Lanka was facing a food emergency or crisis. Emergency Regulations were imposed only to ensure that no hoarding of foodstuffs by errant traders intending to take advantage of the lockdown situation takes place, Government sources said. Ample stocks of all foods were available, they said.

 


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