January 15, Colombo (LNW): Consumers are set to see relief at the checkout as the price of imported milk powder is due to fall from tomorrow, following talks between importers and the Ministry of Trade, Commerce, Food Security and Co-operative Development.
Under the revised pricing structure, the cost of a one-kilogramme pack of imported milk powder will be reduced by Rs.125, while a 400-gramme packet will see a price cut of Rs.50.
The agreement was reached after discussions held at the Ministry earlier this week, with Trade, Commerce, Food Security and Co-operative Development Minister Wasantha Samarasinghe and Consumer Affairs Authority Chairman Hemantha Samarakoon among those present.
Officials said the decision was influenced by the downward trend in international milk powder prices. The Minister had urged importers to ensure that the benefit of lower global costs is reflected in local retail prices, a request to which importers agreed.
Ministry sources also indicated that this reduction may not be the last, with the possibility of further price cuts being considered if global market conditions remain favourable in the coming months.
