Local milk powder prices increased by Rs.125

The milk powder companies have taken steps to increase the prices of local milk powder after the introduction of the Social Security Contribution Tax and the high cost of ingredients.

The companies have increased the price of a 400g pouch by Rs.125. Meanwhile, Renuka Perera, the Chairman of MILCO Ltd., has stated that the prices of milk powder packets will be raised as well.

"All milk powder manufacturing companies have been affected by the high cost of ingredients and by the Social Security Contribution Tax. "We have come to an unbearable situation," he said.

So all the MILCO dairy products, including milk powder packets, will be increased soon. The chairman said no decision has been taken yet to announce the prices, but discussions are under way. (Chaturanga Samarawickrama)