Milk powder prices go upView(s):
Prices of powdered milk were increased yesterday, ending a three-month long battle between milk powder companies and the Consumer Affairs Authority.
A spokesman for the Ministry of Co-operatives and Internal Trade said the price of a 400g packet of milk powder packet was increased by Rs 61 from midnight yesterday and the one kilogram pack by Rs 152. Accordingly a 400 gram packet will cost consumers Rs. 386 and a kilogram packet Rs. 962.
With last night’s price increase, milk food companies are expected to increase their productions or release their stocks to the market, thus ending the three months-long shortage. The Trade Ministry spokesman said the Consumer Affairs Authority took into consideration the increase in world market prices of milk powder in granting approval for a price increase. The last time the milk food price was increased was in May 2012.