Government to implement price formula on imported milk

The Cabinet of Ministers has given its approval to implement a price formula on imported milk.

A Cabinet memorandum in this regard was forwarded by Agriculture, Animal Husbandry and Fisheries Minister P. Harrison.

The implementation of the price formula will be carried out by the Consumer Affairs Authority. A committee appointed by the government has come up with the price formula considering the international milk prices and exchange rate fluctuations after price controls on milk powder led to shortages in the local market, recently.

Sri Lanka is around 40 percent self-sufficient in milk. The country imports nearly 100,000 metric tonnes of powdered milk, spending more than US $ 400 million per year.