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Milk powder price cut

This article was originally published in Foodnews

SRI Lanka has cut taxes on imported milk powder to LKR28 per kg (USD0.25/kg) from LKR50/kg, as a reaction to the recent surge in price of the commodity. Sri Lanka imports about 3 000 tonnes of milk powder annually. The Sri Lankan rupee is pegged to the US dollar and its prices are directly anchored to US dollars, unlike a country with an independently floating currency.


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