• Fisheries, farming, transport, bakery sectors warn of mounting losses 

The recent fuel price hike announced by the Ceylon Petroleum Corporation (CPC) has sent shockwaves through multiple industries across the country, intensifying pressure on sectors already grappling with rising costs.

The price revision, which came into effect from yesterday (22) has compounded existing economic challenges, leaving fishing boat owners, vegetable farmers, bus operators, and bakery owners struggling to manage escalating expenses and operational uncertainty.

Speaking to The Daily Morning, Multi-Day Fishing Boat Owners’ Association President Tyrone Mendis said the association had recently held discussions with the Fisheries Ministry regarding their concerns, but the latest fuel price increase had once again created uncertainty. “We had a meeting with the Fisheries Ministry on 21 March. The Minister promised they would hold discussions with the President to explore whether taxes could be reduced and whether the fuel price increase could be reconsidered. However, by midnight, fuel prices had increased again,” he said.

Mendis said that fishing boat operators were already operating at a loss of more than Rs. 40,000 per boat, and the latest price revision would significantly increase their daily expenses. “We require around 10,000 to 12,000 litres of fuel per day, and now the prices have increased by approximately Rs. 100 per litre. That means we are going to incur an additional cost of between Rs. 1,000,000 and Rs. 1,200,000,” he said.

He further noted that exporters were among those most affected, as the increased costs disrupted their ability to process and export fresh fish. “We export fish, and freezing them is not a practical option until the situation improves, because we are required to sell the fish fresh. Countries such as Japan purchase our fish, and when the fish is no longer fresh, they do not accept them. As a result, we have no alternative but to sell them in the local market at lower prices,” he added.

Meanwhile, C. A. Siriwardhane, President of the Dambulla Economic Centre, told The Daily Morning that vegetable farmers were facing significant losses as falling demand and reduced purchasing activity had driven prices downward. “The farmers somehow manage to bring vegetables to the centre, but vendors are not coming to purchase them,” he said.

He noted the absence of buyers had forced prices down significantly. “The prices of fruits and vegetables have decreased by between Rs. 25 and Rs. 50. We also do not have sufficient cold storage or freezing facilities. Vegetables are now accumulating in the centres, and farmers are experiencing severe losses,” he added.

The private bus sector has also reported operational uncertainty due to rising fuel prices and inadequate fuel supply allocations.

Speaking to The Daily Morning, Gemunu Wijeratne, President of the Private Bus Owners’ Association said that despite increases in fuel quotas for other categories of vehicles, allocations for private buses had not been adequately addressed. “On one hand, fuel prices have increased, and on the other hand, sufficient fuel has not been allocated for private buses. We have not been given clear information about when additional fuel will be provided,” he said.

Meanwhile, the bakery industry reported a 20% increase in ingredient costs and warned that a consumer price increase may be unavoidable.

All Ceylon Bakery Owners’ Association's Coordinating Secretary, Anil Hettiarachchi told The Daily Morning that discussions were ongoing regarding a possible price revision. “We have not yet made a final decision on increasing prices. Discussions are currently taking place, and we expect to reach a decision by Wednesday. We cannot continue operations without adjusting prices,” he added.

The Ceylon Petroleum Corporation announced a revision of fuel prices effective from midnight on 21 March, marking the latest in a series of increases over recent weeks. According to the revision, the price of 92 Octane petrol was increased by Rs. 75 to Rs. 375 per litre, while 95 Octane petrol increased by Rs. 95 to Rs. 450 per litre. Auto diesel was raised by Rs. 75 to Rs. 350 per litre, and Super Diesel increased by Rs. 80 to Rs. 420 per litre.

Meanwhile, speaking to the media yesterday, Cabinet Spokesman and Health and Mass Media Minister Dr. Nalinda Jayatissa said that although concessions would be provided to selected sectors, there were limitations to the Government’s capacity to extend financial support at present.