Prices of confectionery items to be reduced

(FASTNEWS | COLOMBO) – A decision has been taken to reduce the prices of confectionery items by 10-13 percent with immediate effect, the Lanka Confectionery Manufacturers Association (LCMA) said.

LCMA Chairman S.M.D. Suriyakumara said consumers will witness a drop in the prices of confectionery products across all product categories.

Suriyakumara said a decision has been made to reduce the prices of confectionery items in the market, as the costs of two key raw materials have come down.

The sugar grade used for confectionery manufacturing has dropped by Rs.40 per kilogram, while the price of vegetable oil has declined by about Rs.250 per kilo, he revealed.

The price drop comes after consumers were made to pay exorbitant prices for several weeks to procure what used to be affordable snacks due to the current economic crisis.