Essential commodity wholesale prices swing amid Middle-East conflict

2026-03-18 - 08:04

Chairman of the Essential Food Commodities Importers and Traders Association – Nihal Seneviratne has said that the ongoing conflict in the Middle East has caused wholesale prices of essential commodities, including sugar and lentils, to rise by around Rs. 2-3 per kg. He noted that sprats from Iran are currently unavailable, contributing to supply concerns. Meanwhile, prices of some commodities such as big onions and potatoes have reportedly fallen by around Rs. 10 per kilogram due to market fluctuations. He explained that increased shipping and insurance costs have added to the expenses of transporting already-ordered goods. While no outright shortages of essential items have been reported, price fluctuation is expected to continue, Seneviratne noted. Traders have been urged to avoid excessive hoarding and maintain proper stock management. Seneviratne highlighted that about 60% of sprats previously imported were from Iran, and suggested sourcing them from Thailand to compensate for the shortfall. He also requested the Government to resume imports of canned fish, as domestic production is insufficient to meet demand. He emphasized that careful management of essential commodities, along with imports from countries such as India, China, and Pakistan, could prevent shortages during festival periods.