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Thursday, 14 March 2019 - 13:50
Powdered milk prices likely to be increased by 60 to 70 rupees
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With the milk powder price formula being approved by the cabinet, government sources stated that the price of imported milk powder could increase by between 60 and 70 rupees.

A top official at a milk powder company said , the process of clearing  stocks of imported milk powder that had accumulated at the Colombo Port has now commenced.

In February, milk powder companies requested that the Consumer Services Authority increase the price of a kilo of imported milk powder.

The government subsequently took steps to create a price formula .

the Minister of Agriculture, Rural Economic Affairs and Livestock Development P. Harrison submitted the price formula to the Cabinet on Tuesday this week.

The Consumer Services Authority said that  new prices will be calculated in accordance to the price formula which takes into account world market pricing.

the Board of Directors of the Consumer Services Authority has yet to grant permission for the price increase.

However the Board of Directors have an issue in granting approval as their board is in the process of filling vacancies.

In the instance that approval is granted and the new prices are implemented,

the price of a [packet of 1kg milk powder will increase from  860 rupees to 920 rupees.

the price of a 400 gm packet will increase from. 345 rupees will increase to Rs. 370.
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