Milk powder prices increased as per newly-introduced pricing formula

(FASTNEWS|COLOMBO) – The prices of imported milk powder have been increased as per the newly-introduced pricing formula.

Accordingly, the price of a 1 kilogramme packet of milk powder has been increased by Rs. 60 and will be available at Rs. 920, while the price of a 400 grams packet of milk powder increased by Rs. 25 and will be available at Rs. 370.

The Cabinet of Ministers had approved a proposal by the Minister of Agriculture, Rural Economic Affairs, Livestock Development, Irrigation, and Fisheries and Aquatic Resources Development, P Harrison to implement the formula through the Consumer Affairs Authority (CCA).

The proposed formula takes into account international prices and exchange rate fluctuations.