Local Milk Powder industry insists on price hike

(FASTNEWS | COLOMBO) – It is reported that the prices of local milk powder are also being increased. Milco is focusing on increasing the price of a 400-gram packet of milk powder to Rs. 470.

However, Milco Chairman Lasantha Wickremasinghe stated that a final decision in this regard is yet to be taken.

It is also reported that the Pelwatta Company has already increased the price of milk powder. That is, a 400-gram packet of milk powder which was Rs. 380 is being priced at Rs. 460.

In the face of the foreign exchange crisis, imported milk powder companies have increased the price of milk powder by Rs. 250, with the final price ending at Rs 1,195

The price of a 400-gram packet of milk powder was increased by Rs. 100 and the new price was Rs. 480.