Milk powder prices to increase by Rs 200 per kilo?

Milk powder prices to increase by Rs 200 per kilo?

September 19, 2021   02:43 pm

It has come to an agreement to increase the price of imported milk powder by Rs 200 per kilogram, State Minister Lasantha Alagiyawanna stated.

However, the final decision in this regard will be taken by the Cost of Living Committee next week, the State Minister said.

Lasantha Alagiyawanna, State Minister of Cooperative Services, Marketing Development and Consumer Protection held discussions with milk powder importers yesterday (September 18).

Reportedly, the importers had demanded an increase of Rs 350 per kilogram of milk powder.

Subsequently, the two parties had agreed to increase the price of a kilogram of milk powder by Rs 200.

Member of Milk Powder Importers Association Lakshman Weerasuriya commenting on the decision said, 
“The current price of Rs 945 was calculated when one ton of milk powder was USD 2,800, or one kilo is USD 2.80. The USD was Rs 186 in Sri Lanka then.

However, while it is stated as 1 dollar is Rs 203, we buy at Rs 238 per dollar. That way, a ton of milk powder becomes [USD] 4,100, 4,200. The difference is Rs 350.

We asked for Rs 350, but after discussions, it was agreed for Rs 200. Accordingly, we hope to sign the agreement next week.

However, we have clearly stated that we agree to Rs 200 only if the dollar is given at Rs 203. Otherwise, we cannot continue this way. These companies are collapsing day by day.”

The current price of milk powder in the market is Rs 945 per kilo. If the price is increased by Rs 200, the price of a kilo will increase to Rs 1,145.

In addition, the current price of a 400g packet of milk powder in the market will increase by Rs 78, increasing the price of a 400g packet to Rs 458 in turn.

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