Agriculture and Plantation Industries Minister Mahinda Amaraweera said it was decided to reduce the price of a 400 gram packet of government-owned Milco Company’s Highland milk powder by Rs.75 from next week.
In addition, steps have been taken to reduce the price of one kilogram of Highland milk powder packet by Rs.190.The Minister also mentioned that although the Milco Company released this reduced price milk powder to the market from today, the current stock in the market remains at the old price, so this price reduction will be implemented from next week.
The minister made these statements while addressing a press conference held at the Agriculture and Plantation Industries Ministry yesterday (10). Milco Chairman Indika Guruge and officials participated.
The minister also mentioned that although the daily collection and production of milk had been disrupted in the past year, the Milco Company has now become a profit-making government institution due to its financial stability and increased production capacity.
As Highland Milk is a local product of the highest quality and all the other products produced by Milco Company are at a very high level, other companies competing with it in the market are facing a setback.Because of this, there is a tendency to sell the raw milk they have to the Milco Company. As Milco is now financially stable, it has taken steps to reduce the price of Highland milk powder by Rs.75 to give consumers the benefit. Milco Chairman Indika Guruge said the stock value of Milco Company’s products is Rs.2.5 billion and currently there are nearly two million 400 gram milk packets, and the stock will be enough for the next four months.
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