Milk powder shortage in fortnight: Importers

Milk powder importers said yesterday they stopped importing milk powder from last week following its increase in the world market.

“The cost of one metric ton of milk powder in the world market is US$ 3,250-3,350. It can go up to US$ 3,400-3,500 by June. Against this backdrop, we requested the Consumer Affairs Authority (CAA) and the Cost of Living Committee to increase the price of one kilo of imported milk powder by Rs.100 to cover up importer costs. The sudden stoppage of importing new stocks has been informed to Prime Minister Ranil Wickremesinghe,” they said.

This decision was taken considering the dollar increment of milk powder stocks in the world market and inflation of the dollar against the rupee.

“Milk powder stocks available in the local market will be sufficient only for the next two or three weeks. Afterwards, there will be a shortage,” the importers said.

Hence, they request the CAA and the Cost of Living Committee to grant them a price hike of at least Rs.75 per kilo of milk powder.

(Source: Daily Mirror – By Chaturanga Samarawickrama)