25 September 2019 12:01 am
By Chaturanga Samarawickrama
The price of a packet of imported milk powder has been increased from yesterday, the Consumer Affairs Authority said.
A CAA spokesman said a 400-grams packet of imported milk powder packet would be increased by Rs.20 while a one kilo packet would be increased by Rs.50.
The milk powder companies had requested for a price hike in a letter sent to the CAA on Monday.
The milk powder companies said the prices were increased under the pricing formula and in keeping with the world market.
The present market price of a 400 gram packet of imported milk powder packet is Rs.395 while that of a one kilogram packet was Rs.985.
The Government had introduced the pricing formula for milk powder in consideration of market prices and exchange rate fluctuations to ensure that benefits are transferred to consumers.
However, the prices of imported milk powder already released to the market will remain unchanged.