COLOMBO (NewsRadio); The price of a 1 kg packet of imported powdered milk will be reduced by Rs. 200 from Monday.
Milk Powder importers also announced that a 400g pack of imported powdered milk will be reduced by Rs. 80 from the 27th of March.
The reduction in prices come at a time, the Sri Lankan Rupee has been appreciating against the US Dollar.
After the government secured the bailout package from the International Monetary Fund, the Rupee strengthened further.
State Minister of Finance Ranjith Siyambalapitiya also confirmed that due to the appreciation of the Rupee against the US Dollar, prices of all imported items including powdered milk, fuel, gas and cement will come down in the future.