With global food prices decreasing, the Trade Ministry is again calling on distributors and retailers to pass on the lower prices to consumers.

According to the Ministry, the monthly survey by its Consumer Affairs Division shows while there have been price reductions, these are not sufficient.

It says after examining the retail prices of 115 items, there were declines in only 17% of these, between June 2023 and June last year.

For rice and vegetable oil, retail prices even reflected an increase, despite import rates declining.

According to the Ministry, shipping rates have also been declining since September 2022.

Meanwhile, it is praising entities such as Nutrimix Flour Mills, National Flour Mills and JMH Enterprises Limited for reducing their retail prices.