The Essential Food Importers’ Association has warned that the prices of several imported goods are likely to increase in the coming weeks due to the continuous depreciation of the Sri Lankan rupee and the rising value of the US dollar.
Speaking to media, the Secretary of the Association, P. Subramaniam stated that the fluctuation in exchange rates would directly impact the cost of importing essential commodities.
He noted that prices of several essential food items, including sugar, dhal and rice are expected to increase in the near future as import costs continue to increase.
Meanwhile, the Milk Powder Importers’ Association has announced an increase in the prices of powdered milk, citing prevailing market conditions and exchange rate fluctuations.
According to the association, the price of a 400-gram packet of powdered milk has been increased by Rs. 50, while a one-kilogram packet will see a price hike of Rs. 125.
The revised prices will apply to powdered milk packets packed from today (20) onwards, the association noted.
Importers stated that the decision was taken after considering the current economic situation and changes in foreign exchange rates affecting import costs.
