Sri Lanka is to face a shortage of milk powder following a decision by several leading companies to suspend milk powder imports, due to rising costs, the Sunday Times reports.
Several milk powder company heads told the Sunday Times that the government has not allowed them to increase the price of milk powder to consumers, leaving them with no choice but to “stop imports and also stop selling existing stocks of whole milk powder”.
The devaluation of the rupee and rising taxes has left companies facing losses of Rs. 30 to 40 million per month they claimed. They have reportedly filed a request with the Consumer Affairs Authority and the Cost of Living Committee in Sri Lanka to allow them to increase the price of one kilo of imported milk powder by Rs. 100.
See more from the Sunday Times here.
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