COOPFED signs historic MoUs with Lanka Sugar and BCC Lanka to supply quality local products

The Sri Lanka Consumer Cooperative Societies Federation (COOPFED) has signed two historic Memoranda of Understanding with Lanka Sugar Company and BCC Lanka Company, aimed at strengthening local industry and delivering essential goods to consumers at affordable prices.

Under the agreements, Lanka Sugar will supply 1,000 tons of brown sugar per month, while BCC Lanka will provide 20,000 liters of bottled coconut oil along with soap and other products. These items will be distributed through a wide cooperative network spanning 3,500 regional shops via representatives of 75 consumer cooperatives.

COOPFED said the initiative is designed to eliminate intermediaries, stabilize market prices, and act as a national “Price Stabilizer.” The Federation also plans to expand its retail footprint to 10,000 shops by 2029, while exploring partnerships with Indian cooperatives to import and distribute quality products.

The Ministry of Trade has highlighted the Federation’s long‑standing commitment to sustainable business ethics and improving the economic status of members and consumers. By promoting local products and breaking market monopolies, the cooperative movement aims to provide relief to the public and contribute to building a fairer economy.

Speaking at the signing, Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe noted that in developed countries such as the United States and Europe, one in five people is a member of a consumer cooperative. He emphasized that cooperatives are vital in connecting producers directly with consumers, and said the government intends to expand the cooperative branch network into a comprehensive “ecosystem.”

The Deputy Minister further stated that the Ministries of Finance and Trade are working together to strengthen the cooperative banking system, providing a stronger platform for small and medium‑scale entrepreneurs to bring their products to market.

The event was attended by COOPFED Chairman, Ministry Advisor Dr. Shantha Jayaratna, CEO Roshani Pradeepa, BCC Lanka Chairman Prasanga Indrajith, Lanka Sugar Chairman Wasantha Athula Kumara, and Director/CEO Dharmavardhana Udaya Kumar. (Newswire)

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