Following the last hike of milk powder prices in the local market, the price of milk powder in the global market has soared by 10 per cent, revealed the Milk Powder Importers Association.
This will probably be leading to another price surge in milk powder in the local market, Union Spokesperson Asoka Bandara predicted.
In the severe shortage of milk powder in the local market it may take at least another two months to recover the situation, he added, expressing the milk importance grievance that they are facing a severe crisis due to the dollar deficit.
This is mainly due to the inability to obtain the required dollars for their import activities, Bandara added.
MIAP