The Sri Lankan Confectionery Owners’ Association has assured the Government that prices of biscuits, ice cream, chocolate and other confectionery products will remain unchanged until May, following discussions with Trade Minister Wasantha Samarasinghe.

The assurance was given at a meeting held yesterday (26), where the impact of global developments, including tensions in the Middle East, on the industry was discussed.

The Minister noted that consumers are already under financial strain and stressed the need to avoid further price increases on essential goods. 

He added that the Government is prepared to intervene to support the sector while safeguarding both producers and consumers.

Speaking at the meeting, Association President S.M.D. Suriyakumara said the industry directly employs around 50,000 people and supports over 500,000 indirectly. He highlighted that the sector meets about 95% of local demand and has invested over Rs. 15 billion in technology over the past decade.

Despite rising costs of utilities such as electricity and gas, as well as expensive imported raw materials, he noted that prices have remained unchanged since the COVID-19 period, with businesses operating on narrow profit margins.

With production underway for the Sinhala and Tamil New Year season, the association has decided to maintain current prices through the festive period. However, it warned that revisions may be considered after May if costs continue to rise.

The association also raised concerns over delays in clearing raw materials at customs and increasing shipping charges, calling for government support to ensure smooth distribution and adequate fuel supply during the New Year period.