Feb 01, Colombo: Sri Lanka's Consumer Affairs Authority has decided to revise the prices of milk powder in response to requests from the industry.
Accordingly, the price of powdered milk has been increased by Rs. 61 per 400 grams pack, and 1 a kilo gram pack is increased by Rs. 152, with effect from midnight Saturday.
The new price of a 400 kilo grams pack of milk powder will be Rs. 386 and that of a1 kilo gram pack will be Rs. 962.
Several milk powder companies have sought a price hike due to the price escalation in the world market. Since milk powder is considered an essential item in Sri Lanka and its price is controlled, the industry needs the approval of the Consumer Affairs Authority to increase prices.
There is a severe shortage of milk powder in Sri Lanka's retail and wholesale markets. Some producers have suspended distribution due to the losses.