This is confirmed in a letter sent to Lanka Sugar’s chairman and director board by director/CEO M.H.A. Sattar on 08 February 2016.

The wholesale market price of brown sugar is Rs. 88 per kilo, but Lanka Sugar issued the consignment to the CWE at Rs. 80 per kilo.

The transaction has taken place without the knowledge of Lanka Sugar’s finance committee, but to the want of a few top officials, say the sources.

However, the brown sugar consignment did not reach the CWE warehouses, and the entire lot was sold to a private trader at Rs. 81 a kilo.

At the time of the transaction, the CWE had sold brown sugar to consumers at Rs. 94.50 per kilo, and the consignment could have earned a profit for the institution.

The private trader has sold the consignment at prices between Rs. 88 and Rs. 90, ‘Divaina’ reports.