(UTV | COLOMBO) – The All Island Bakery Owners Association says they are severely burdened as a result of the decision to increase the tax for imported margarine and palm oil.
Chairman NK Jayawardene said local margarine manufacturers are also preparing to increase the prices of the relevant products in line with the decision.
Jayawardene noted if so the prices of bakery products including bread may also have to be increased.
NK Jayawardene said bakery owners are disheartened adding that they had been severely burdened as a result of the coronavirus outbreak as well.
He claimed palm oil and margarine are essential for bakery owners while stating that as a result of the recent decision, bakery owners will also be unable to purchase imported margarine and palm oil due to the increased prices.
He noted local manufacturers are however attempting to benefit from the situation by increasing their prices as well.
Jayawardene reiterated if the decision is implemented, prices of bakery products will also increase