The decision taken by the Government to increase the price of imported milk powder at this moment was highly commended by the Milk Powder Importers Association (MIA) and according to the new price hike, one kilo of milk powder is Rs. 1,195 while a 400-gram packet will be sold at Rs. 480.
Speaking to Daily News Business Ariya Kiri, Director CEO and MIA member Lakshman Weerasuriya said the country’s long-standing milk powder shortage came to an end on Saturday (October 9) and consumers could purchase their requirements from today (October 11) without any difficulties.
Accordingly, the countrywide milk powder distribution commenced yesterday and people in distant areas could purchase their stuff within a period of two to three days from Monday. Weerasuriya further said after a careful study of the price of milk powder in the world market, the high cost of freight charges and increasing the value of the dollar against the Sri Lankan rupee, the Ministry had to decide the price increase. He said according to the new price structure even consumers still gain lots of benefits since one-litre milk powder cost Rs. 162 while locally manufactured one-litre liquid milk cost Rs. 280 and under this situation, consumers receive a 50 per cent profit margin when using milk powder.
Weerasuriya further said considering our plea the Consumer Affairs Authority (CAA) too agreed to the new milk powder price introduced by the MIA. Meanwhile, State Minister Lasantha Alagiyawanna said although the earlier Gazette notification was cancelled, the traders cannot hike the price of milk powder under any circumstances if so the Government will have to impose a controlled price on milk powder again.
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