Oct 29, Colombo: The price of a 450 grams loaf of bread is to be increased by Rs. 2 with effect from midnight today following the price increase in flour, the All Ceylon Bakery Owners' Association (ACBOA) said.

Chairman of All Ceylon Bakery Owners' Association (ACBOA) N.K. Jayawardena said the decision to increase the prices of bakery products including bread was taken at the meeting held Monday with the bakery owners.

Currently the price of a 450 g loaf of bread is between Rs. 55 and Rs. 60 and from midnight today it will be increased by Rs 2.

The Association says most bakeries are operating at a loss and about 2,000 of some 7,000 odd bakeries in the country have already been due to high costs due to the price hikes of flour and transportation costs.

Both major milling companies in Sri Lanka, Prima and Serendib have raised the prices of wheat flour effective from midnight October 26.

Prima increased the price of one kilo of flour by Rs. 6 and Serendib increased one kilo flour by Rs.4.