By Sarah Hannan The Consumer Affairs Authority (CAA) said that it is closely monitoring price increases for commodities amid the present economic climate. CAA Director – Consumer Affairs and Information Asela Bandara, speaking to The Morning, said: “As a single institution, we are unable to dismantle any monopolies that are created in the market for any commodity. “However, the CAA can take action against traders that try to sell products at a high price point. Especially in cases where a certain product is not in short supply and if the trader is trying to create an artificial shortage of supply just to increase the prices and sell to the consumers, we mediate.” He further stated that rice is one such commodity that needs to be sold at the controlled price decided by the Government, as the farmers are given relief when purchasing fertiliser. Moreover, rice mill owners too are given loan facilities at low interest rates to purchase paddy from farmers after the harvest. Concerns were raised when the price of rice shot up from Rs. 80 to Rs. 100 and kept increasing, but further investigations had revealed that there was no special reason for the price increase. The CAA had then inquired about the paddy purchasing prices and revised the price of rice. With the economic centres and shops starting to commence business as usual, the CAA will now closely monitor all traders to ensure that commodities are sold at the market price that is determined by the Government.