The price of imported milk powder will be reduced from tomorrow (16), following an agreement reached between milk powder importers and the Trade, Commerce, Food Security and Cooperative Development Ministry.
Under the agreement, the price of a kilogram of imported milk powder will be cut by Rs.125, while the price of a 400g packet will be reduced by Rs.50.
The decision was reached after discussions held yesterday (13) at the Ministry, attended by Trade, Commerce, Food Security and Co-operative Development Minister Wasantha Samarasinghe and Consumer Affairs Authority Chairman Hemantha Samarakoon.
Taking into account the decline in global milk powder prices, the Minister requested importers to pass on the benefit to consumers. Importers agreed to the proposal and officials noted that a further reduction in milk powder prices is expected in April.
