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| Sunday, 11 July 2004 |
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| News Business Features Editorial
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Milk food prices to be adjusted? by Chamitha Kuruppu The Consumer Affairs Authority (CAA) will reach a final decision whether to increase milk food prices at a Board Meeting to be held tomorrow. This follows a request made by milk food import companies to adjust the existing milk food prices in view of the international market trends and the devaluation of the rupee. The authority is expected to reach a final decision tomorrow at the board meeting and consult Trade and Consumer Affairs Minister Jeyaraj Fernandopulle as well. "This is a fair request--with the recent changes in world milk food prices and fluctuations in the dollar rate, an adjustment in the existing prices would not be unfair," he added. Each milk food import company has formulated the cost incurred by them due to the rise in international market prices and the devaluation of the rupee. However, the percentage increase will be decided by the CAA. Marketing Director of the Lanka Milk Foods Limited Lal Saranapala said that existing milk food prices need to be adjusted according to the current market conditions and therefore a request was made by them to the CAA a month ago. Commercial Director of the New Zealand Milk Private Limited Chethiya Sri-Nammuni said a request was made by them in April and the company is yet to receive green light from the authority to go ahead with the price hike. Meanwhile, Minister Fernandopulle and Minister of Agriculture and Livestock Development Anura Kumara Dissanayake are scheduled to discuss with 'Amul' an Indian based milk food company to improt milk food at a lesser price, during this week. |
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