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Shortage of milk powder feared

29 February 2012 12:02 am - 2     - {{hitsCtrl.values.hits}}

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A shortage of milk powder in the local market is feared shortly as importers suspended the packing and marketing of milk powder with immediate effect yesterday pending the Consumer Affairs Authority (CAA) decision on a price hike.

Milk powder importers on Friday threatened to stop imports unless the CAA permitted to increase a packet of 450 grams of milk powder by Rs.15 by tomorrow.

Mr. Lakshman Weerasuriya the CEO of Maliban Milk Products said the decision was a collective one as all milk powder importers that represent 95 per cent of the local milk powder market find it extremely difficult to engage in the milk powder trade as it has become a loss making exercise.

He added that all six milk powder importers incur a loss of Rs.37 for every kilogram of milk powder they sell in the local market due to the devaluation of the rupee and increase of the US dollar. The demand to increase the price of milk powder is nothing to do with the global market price or any other overheads but solely on these two factors,” Mr. Weerasuiya stressed. (Sandun A. Jayasekera)
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  • Imran Hussein Wednesday, 29 February 2012 06:13 AM

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    J. Bos Wednesday, 29 February 2012 10:52 AM

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