Food costs in Sri Lanka are still skyrocketing; since 2022, the cost of necessities has increased thrice, according to Dr. Chamila Chandrasiri, the Department of Agriculture’s Director of Socio-Economics and Planning. Revisions to the price ranges of essential food goods were announced Wednesday by the Consumer Affairs Authority (CAA), affecting everything from rice and sugar to dairy and vegetables.
For instance, since 2021, the price of white sugar has increased by almost double, from 115 LKR per kilogram to between 230 and 269 LKR. In a similar vein, the cost of white rice has increased significantly, going from 175 LKR to 210 LKR per kilogram.
In August 2024, food prices increased by 0.80% over the same month the previous year, according to the Department of Census and Statistics. From 2009 to 2024, Sri Lanka’s average annual rate of food inflation was 10.58%, indicating a steady increase.
Dr. Chandrasiri ascribed the surge in production prices to growing labor and machinery expenses. She stressed that in order to increase total yields, the Department of Agriculture has created technical packages for paddy farming and long-term projects targeted at tripling the production of maize and rice. “Our goal is to become self-sufficient and reduce our reliance on rice imports,” she stated.
Dr. Chandrasiri emphasized the need for market stabilization, pointing out that some goods, like carrots, were now as expensive as 2000 LKR. She emphasized that in order to lessen the effects of inflationary pressures, the CAA’s intervention in controlling price increases on necessities like rice is crucial.