Serendib, Prima says no wheat flour price revision despite disruptions in global trade

• Wheat grain sufficient for six months available now   

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.        

• Says as responsible corporate citizens, we are  committed to ensuring staple food security for Sri Lanka despite  external shocks beyond our control