The Milk Powder Importers Association says it has decided to increase the price of imported milk powder.
Accordingly, the association stated that the price of a 400-gram milk powder packet has been increased by Rs. 50, while the price of a 1-kilogram milk powder packet has been increased by Rs. 125.
This decision has been taken considering the prevailing market conditions and exchange rate fluctuations.
The revised prices of packaged milk powder are scheduled to come into effect from today (20).
However, the Milk Powder Importers Association further stated that imported milk powder will be released to the market at the revised prices within the next week. It also emphasized that the price of any imported milk powder currently available in the market will not be increased.
Meanwhile, the Essential Foodstuffs Importers Association says that with the depreciation of the rupee and the continued rise of the US dollar, prices of many imported goods are expected to increase in the future.
Speaking to the media, the Secretary of the association, Mr. Subramaniam, stated that accordingly, the prices of several essential food items, including sugar, lentils, and rice, are likely to rise in the coming period.
