Rising Petrol and Electricity Prices Lead to Increased Food Costs

The reverberations of increased petroleum and electricity costs are now permeating the food and commodity markets, compounding the challenges faced by the common populace.

The local wholesale price of sugar has surged by Rs. 5 to Rs. 148 per kilogram, while its retail price has climbed to Rs. 170. Similarly, other staples are following suit, with a projected Rs. 20 increase in a 20kg bag of flour, from Rs. 2,800 to Rs. 2,820, due to elevated petroleum prices

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This market upheaval has also impacted broiler meat, driving its cost up by Rs. 18 to Rs. 600 per kilogram. Live broiler chicken prices rose by Rs. 12 to Rs. 400 per kilogram, and farm-fresh egg prices escalated by Rs. 2 to Rs. 290 per dozen.

These intertwined price shifts underscore the complex economic dynamics shaping consumer decisions and purchasing power. It’s important to note that these challenges are not isolated incidents but are exacerbated by pre-existing supply chain bottlenecks, smuggling, hoarding, and inefficiencies, as well as the government’s efforts to address issues like poultry feed composition and operational costs.