The Sri Lankan Confectionery Owners’ Association announced the decision following discussions with Trade Minister Wasantha Samarasinghe, who held talks with industry representatives to assess the impact of international developments, including tensions in the Middle East, on local manufacturing and consumer prices.
Industry representatives said the move comes at a time when businesses are already facing increased expenses due to higher electricity and gas tariffs, along with rising costs of imported raw materials. They noted that, although the sector has not revised prices since the COVID-19 period, profit margins remain under strain.
At the same time, the association highlighted that the industry supports around 50,000 direct jobs and more than 500,000 indirect livelihoods, and continues to meet nearly 95% of domestic demand through local production, backed by significant investments over the past decade.
The association added that the current decision to hold prices is also influenced by the Sinhala and Tamil New Year season, which is a peak period for production and sales.
However, officials warned that price adjustments may be considered after May if cost pressures persist, particularly if utility rates and raw material expenses continue to rise.
Meanwhile, concerns were also raised over delays in customs clearance of raw materials and additional shipping costs. The industry has urged the government to ensure smooth fuel supply for distribution and to address logistical challenges affecting production and supply chains.
