Bakery owners reluctant to slash prices amidst gas price drop

Wednesday, 5 April 2023 00:00 - - {{hitsCtrl.values.hits}}

The All Ceylon Bakery Owners’ Association (ACBOA) yesterday said it will not reduce the prices of bakery items despite the drastic drop in domestic gas prices.

ACBOA President Nihal Jayawardena said around 75% of bakeries use diesel, firewood or electricity to operate their ovens and a gas price reduction is only impacting a very small margin of the industry players.

“From the 7,000 operational bakeries, only 2,000 use LP gas,” he said, adding that they are not in a position to reduce the prices of bakery items.

However, if the prices of wheat flour, margarine and eggs reduce in the future, he said the ACBOA membership will consider reducing the prices of bakery items.