Local milk powder producers have announced there will be no reduction in milk powder prices, despite a reduction in the prices of imported milk powder.
Last week, milk powder importers in Sri Lanka announced that the price of imported milk powder will be reduced from today (27).
According to the importers, the price of a 1kg packet of imported milk powder has been reduced by Rs. 200, with the new price at Rs. 2900.
The price of a 400-gram packet of imported milk powder has been reduced by Rs. 80 with the new price of Rs. 1160.
However, according to Hiru News, local milk powder producers Milco and Pelwatte have announced there will be no reduction in the prices of locally produced milk powder.
The Chairman of MILCO Private Limited Renuka Perera stated that this was due to a reduction in the stock of milk obtained from local farmers.
Perera said that local farmers who were providing nearly 1.2 million litres of milk on a daily basis are now only providing 500,000 litres of milk.
Milco Chairman said that thereby, it was impossible to reduce the prices of locally produced milk powder at present.
Meanwhile, the Chairman of Pelwatte Dairy Industries Limited, Ariyaseela Wickramanayake said there was no requirement to reduce the price of locally produced milk powder due to a reduction in the price of imported milk powder. (NewsWire)
