Imported big onions to cost more

Monday, 22 August 2016 00:01 - - {{hitsCtrl.values.hits}}

Ministry of Finance announced that the special commodity levy on imported big onions had been increased with immediate effect.

Accordingly, the import tax for big onion will be increased by Rs. 15 per kilo from Rs. 25 to Rs. 40 with immediate effect.

Issuing a statement the Ministry said the special goods tax has been increased as a remedial measure to protect the local big onion farmers. As the locally produced big onions are now being received in large quantities in the market The Ministry has taken the decision to increase levies to enable the local farmers to get a better price for their products.

Sri Lanka imports 12,000 MTs of big onion monthly. The Government expects local farmers will supply about 50,000 MTs of big onion produce to the market in the forthcoming Yala season. According to the government’s special gazette notification issued on 14 July of 2016, a kilogram of big onion should be sold at a maximum price of Rs.78.