President of the All Ceylon Bakery Owners’ Association, N.K. Jayawardena has said the decision was taken following the reduction of wheat flour price.
The Association last Friday (6) announced that the price of a loaf of bread will be increased by Rs. 2 following the price hike of wheat flour announced by the Prima Ceylon (Private) Limited.
The price of 1kg of wheat flour was to be increased by Rs 5.50, but the wheat flour companies later retracted the price hike.
The companies were called before the Cost of Living committee on Tuesday (10) and they agreed to scrap the recent price hike and to sell wheat flour at the previous price with immediate effect.
The companies were also given a period of three weeks to show cause for the arbitrary wheat flour price increase.
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