9 January 2024 12:00 am Views - 64
Serendib Flour Mills (Pvt) Ltd and Prima Ceylon (Pvt) Ltd - the two main companies supplying wheat flour requirements to the country - say they secured wheat grain sufficient for six months in their silos and therefore will ensure price stability without any upward price revisions in the immediate future.
The two key suppliers who import wheat grain to be milled locally made this announcement in the wake of the wheat flour importers saying that they have to pay extra for shipping charges due to tension in the Red Sea. The importers say they will be compelled to increase prices.
However, the two companies that is responsible for the bulk of the supply in the local market said they have been playing a crucial role in food security of the country by having sufficient stocks of wheat grain and wheat flour even during the recent crisis
“While acknowledging that the recent disruptions in global shipping routes caused by the tensions in the Red Sea, and the resulting increase in freight charges and insurance premiums these companies want to assure food security and price stability in wheat flour to all Sri Lankans. As responsible corporate citizens, we are committed to ensuring staple food security for Sri Lanka despite external shocks beyond our control. Therefore, wheat flour prices will remain as is thanks to our comfortable buffers and effective risk management strategies,” the statement said.