Saturday Mar 28, 2026
Saturday Mar 28, 2026
Saturday, 28 March 2026 00:42 - - {{hitsCtrl.values.hits}}
Consumers can expect a measure of relief in the coming months, as the country’s confectionery industry pledges to hold prices steady until May despite mounting cost pressures triggered by global uncertainties and domestic challenges.
The assurance was given by the Lanka Confectionery Manufacturers Association (LCMA) President S. D. Suriyakumar during a meeting with Trade Minister Wasantha Samarasinghe, who convened discussions to assess the impact of the ongoing Middle East conflict on the sector and its implications for consumers.
At the meeting, LCMA confirmed that prices of key items including biscuits, chocolates and ice cream will remain unchanged through the Sinhala and Tamil New Year season, traditionally a peak demand period. The move comes as households grapple with rising living costs and uncertainty linked to global supply disruptions.
Minister Samarasinghe stressed that consumers are in no position to absorb further price hikes, noting that the Government’s priority is to cushion the public from external shocks while ensuring the sustainability of local industries.
He assured that authorities are prepared to step in to address challenges faced across the supply chain, including those affecting producers and farmers.
LCMA members highlighted that the confectionery sector remains one of the country’s strongest domestic manufacturing bases, meeting around 95% of local demand and supporting hundreds of thousands of jobs both directly and indirectly. Over the past decade, the sector has invested heavily in technology and production standards, enabling it to compete with international brands.
However, LCMA cautioned that the industry is operating under significant strain. Rising utility costs, particularly electricity and gas, alongside higher prices for imported raw materials, have squeezed margins. Despite these pressures, manufacturers have refrained from increasing prices since the COVID-19 period, opting instead to absorb costs to remain competitive.
Suriyakumar said the decision to maintain prices until May was taken collectively, even as the sector enters its most commercially important months. “However, any further escalation in energy costs after May could force a reassessment of pricing,” he stressed.
The LCMA also raised operational concerns, including delays in clearing imported raw materials at customs and rising shipping charges, which are adding to production bottlenecks. In addition, manufacturers called for a reliable fuel distribution mechanism to ensure uninterrupted supply chains during the festive season, warning that logistical disruptions could undermine their ability to meet demand.
