ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Sri Lanka- Now for the Left

IT was no cry in the wilderness, the sugar industry's. A modest fall in sugar prices towards the very end of 1976 had led the industry to shout for "government's immediate intervention" to prop up prices. The government has not disappointed the industry. It has responded by slashing the sugar release quota for February. The quota announced this week is 2.80 lakh tonnes compared to 3.05 lakh tonnes for January and 3.30 lakh tonnes and 3.15 lakh tonnes for November and December 1978, respectively. So there will be less sugar around and prices will perk up. Indeed, sugar industry and trade, it appears, were so confident of the government coming to their help that even before the quota for February was actually announced, the wholesale price of sugar had already begun to rise. All in all, it has gone up by approximately Rs 20 per quintal, or about 5 per cent, since the beginning of this month.

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