All Ceylon Bakery Owners’ Association (ACBOA) states that the prices of all bakery products will be increased during the upcoming Sinhala and Tamil New Year season.

The increasing is happening due to the current taxes and price revisions by the government because of the restriction on imports, excessive taxes and the increase in prices of ingredients. He further explained about the increase of the price of a litre of imported palm oil.

The president of the association N.K. Jayawardene states that government should take appropriate actions as soon as possible as palm oil is a key ingredient of the bakery industry.