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Customs duty on milk powder is reimposed; Special commodity levy on eggs reduced

Published

1 month ago

on

August 27, 2023

By

editor

The Treasury has withdrawn the duty waiver granted for imported milk powder.

The decision has been taken with the aim of adjusting to world market prices, a senior official said. Accordingly, the applicable Customs import duty on the importation of powdered milk is 20% or Rs. 225 for a kilogram, whichever is higher, the Treasury states.

Meanwhile, the Treasury has reduced the special commodity levy on imported eggs from Rs. 50 an egg to Rs. 1 to encourage private sector imports. So far only the state sector has been importing eggs from India.

Egg prices have been dropping steadily after the removal of price controls and the import of eggs from India.

However, local producers said if the government reduced the taxes imposed on food items used in the poultry industry they could further reduce prices.

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BIZ

Colombo International Book Fair 2023 kicks off

Published

4 days ago

on

September 22, 2023

By

editor

Sri Lanka’s largest book exhibition, ‘Colombo International Book Fair’, commenced today (22) at the Bandaranaike Memorial International Conference Hall (BMICH).

The book fair organised by the Sri Lanka Book Publishers’ Association will be held until October 1 from 9.00 am – 9.00 pm.

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BIZ

Import tax on powdered milk increased

Published

4 days ago

on

September 22, 2023

By

editor

Port and Airport Levy (PAL) on imported milk powder has been increased by 10%, says Trade Minister Nalin Fernando.

The tax increase comes into effect today (Sept. 22).

However, the prices of powdered milk in the local market will not be increased following the PAL hike, the Minister has assured.

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BIZ

Price of chicken reduced from midnight today

Published

5 days ago

on

September 21, 2023

By

editor

Local poultry producers have agreed to reduce the price of chicken by Rs. 100 per kilogram, with effect from midnight today (Sep. 21).

The agreement was reached following a discussion with the Minister of Trade, Commerce and Food Security, Nalin Fernando, this afternoon.

Accordingly, a kilogram of chicken will now be sold at Rs. 1,150.

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