The All Ceylon Traditional Coconut Oil Manufacturers Association says coconut oil will be released to the market under a control price for the upcoming festive season.
Chief Convener Buddhika de Silva speaking to NewsRadio said importers are attempting to create a shortage of coconut oil in the market.
He said a kilogram of coconut oil is being provided at between Rs.550 and Rs.580.
He charged large-scale importers of concealing stocks in order to create an artificial shortage and thereby increase prices of coconut oil.
de Silva said with the decision to impose a control price on coconut oil a bottle can be issued at between Rs.400-450.