A steep drop in prices of essential items, sustained by steady supplies, has resulted in one of the best Vesak buying seasons for the Sri Lankan consumer.
โOur work to control the supply situation starting April 7 on the instructions of HE President has brought good resultsโ said Minister of Industry and Commerce Rishad Bathiudeen on the morning of 9 May in Colombo. He was responding to latest updates from retail and wholesale distributors of Pettah โColomboโs wholesale market epicentre- on the morning of 9 May. Previously, on 7 April, on the instructions of HE President Maithripala Sirisena, Minister Bathiudeen and Finance Minister Ravi Karunanayake visited Pettah market, inspected prices and met wholesale suppliers ensuring there would be no shortages during the April new year season.
โOur work to control the supply situation starting April 7 based on the instructions of HE President Maithripala Sirisena has brought good resultsโ said Minister Bathiudeen and added: โThe usual Vesak demand and price increases are absent this year. Our consumers need not worry about any shortages in the Vesak season due to low prices and good supply.โ
According to Media Secretary for the Essential Food Commodities Importers and Traders Association (EFCITA), Hemaka Fernando, the market supply on the eve of this Vesak season is favourable, with stable stocks and declining prices. And wholesale prices of several essential items have dropped this year in comparison to Vesak days of last year. โThis yearโs wholesale situation in Pettah market is such that the prices are extremely down. Big onion wholesale price per kilo last May was Rs 78-80 but today itโs as low as Rs 62-63 per kilo. White sugar (imported, refined) wholesale price per kilo last May was Rs 103-105 but today Rs 95-96. Red split lentils wholesale price per kilo last May was Rs 175-185 but today its Rs 135-145. These are the main products used during Vesak season and their low prices greatly help the consumers for their Vesak needs. The low prices are also a result of Ministers Bathiudeen and Karunanayakeโs visit to inspect the Pettah market suppliers on 7 April and giving them directions to keep continued supplies. All rice varieties under approved MRPs are also observed and supplied at the specified MRPs by the wholesale market, without any shortages. Therefore overall, there is a surplus of the supply of food commodities, rather than a scarcity. Still, one significant trend needs to be mentioned about this yearโs season-in comparison to 2016 Vesak season, this year there is a 30% fall in sales of all island-wide wholesale centres during Vesak in Dambulla, Meegoda, Welisara, Kandy, Colombo and Matara economic centres. ย This is understandable since the prolonged two year drought has struck the economy of the farmer community. One can blame the government for the drought situation but itโs beyond the control of the government. Still, despite the supplier side constraint, the consumers are seeing an extremely satisfying situation with very low prices in the market and very affordable. These levels shall greatly benefit the Dansals of the season. We at EFCITA wish a blessed Vesak for all.โ
The excess stocks resulting from the fall in sales in economic centres also ensure consumers of uninterrupted commodity supplies during the Vesak season.
The items identified by the government as โessentialโ are chicken meat, red dhall, designated rice types, spratts, chickpeas, green grams, canned fish, white flour, white sugar,ย full cream milk powder,ย B onions, potatoes, dried chillies, dried fishes, Maldive fish and Sustagen.
Leader of All Ceylon Makkal Congress