Jan 27, Colombo: Sri Lanka's Consumer Affairs Authority says it will hold a special discussion on Tuesday (January 28) to decide on revising the prices of milk powder.
The Authority has considered revising the milk powder prices as several milk powder companies have sought a price hike due to the price escalation in the world market.
Milk powder is considered an essential item in Sri Lanka and its price is controlled. The milk powder companies need the approval from the Consumer Affairs Authority to increase prices.
Sources say that the milk powder companies have sought a price increase of Rs. 250 per one kilogram packet but an official said the Authority will try to minimize the inconvenience to the consumer and prices will not be increased as much as requested.
However, Consumer Affairs Authority Chairman, Rumi Marzook said no decision has been taken yet on a price hike.
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.