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Wheat flour : Price reductions likely with Turkish imports

04 Sep 2022

   
  • First shipment by mid-September
  • Importers blame duopoly for hikes
  By Skandha Gunasekara   The price of wheat flour can be reduced once the required stocks imported from Turkey arrive by the end of the month and are distributed here, according to wholesale importers. Responding to a question, Essential Food Importers and Traders Association (EFITA) Spokesperson Nihal Seneviratne told The Sunday Morning that Sri Lanka was considering importing flour from Turkey due to ongoing complications when importing from India.  “We have started procurement of flour from Turkey. Our officials have already gone to Turkey and we hope to have shipments here by mid-September. We expect the first shipment to arrive by 15 September. Some flour is also being imported from Dubai, but that is at a high cost. Once the Turkish flour starts coming in, we expect flour prices to gradually go down.” Seneviratne said that the serious shortage of wheat flour had caused the price hike in the market: “There’s already a massive shortage because of this Indian export ban. That is why the prices are so high at the moment.” He added that the shortage was being aggravated by the failure of major local wheat flour importers to release sufficient stocks to the market. “The issue has also been aggravated because major importers who have a duopoly over the market are hoarding stocks to be sold on the black market. If they issue the full quantity for normal distribution, there won’t be such a shortage. They are only supplying 25% of the required amount, so that means 75% has to be imported,” he charged.  Attempts to contact the Minister of Trade, Commerce, and Food Security on import complications and allegations of stockpiling failed.  

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