In a recent development, milk powder importers have made the decision to hike retail prices for imported milk powder, with the adjustments set to take effect from next week. The announcement was made by the Milk Powder Importers’ Association, outlining the specifics of the impending price increases.
Starting next week, consumers can anticipate a Rs. 30 surge in the cost of a 400g packet of imported milk powder. Additionally, the price for a 1kg packet is expected to experience a notable increase of Rs. 75. The Milk Powder Importers’ Association has attributed these adjustments to various factors influencing the market.
The escalation in prices is attributed to an increase in Value Added Tax (VAT).
