The Milk Powder Importers' Association has taken steps to immediately increase the prices of imported milk powder sold in the local market. The association states that this price revision was decided considering the prevailing market conditions and changes in foreign exchange rates.
According to this price revision, the price of a 400g and 450g imported milk powder packet available in the market has been increased by Rs. 50. Additionally, the price of a 1kg milk powder packet has been increased by Rs. 125, and these new prices are set to come into effect from today (20).
However, the Milk Powder Importers' Association states that milk powder packed under the new prices will be released to the market within the next week. The association further confirms that due to this, the price of any imported milk powder currently available for sale in the market will not increase immediately.
Meanwhile, the Essential Food Importers' Association states that due to the continuous depreciation of the Sri Lankan Rupee and the appreciation of the US Dollar, there are signs that the prices of several other imported essential goods will increase in the future.
The association's secretary, Mr. Subramaniam, speaking to the media, stated that due to the prevailing exchange crisis, the prices of several essential food items consumed daily by the people of this country, including sugar, dhal, and rice, could increase in the coming days.