State‑owned dairy company Milco (Pvt) Ltd achieved a historic financial turnaround last year, recording its highest‑ever net profit of Rs.1.49 billion by late 2025, according to Agriculture and Livestock Deputy Minister Namal Karunaratne.

Deputy Minister Karunaratne told Parliament last week that the recovery enabled the company to halt privatization plans, clear debts, and extend unprecedented financial benefits. 

On December 31, 2025, Milco disbursed a performance bonus of Rs.75,000 each to all 1,228 employees. In addition, Rs.180 million in profit‑sharing incentives was distributed among 22,000 dairy farmers, marking the first such payout in 21 years.

He further said that Milco had previously accumulated Rs.3.5 billion in bank loans and Rs.1.7 billion in outstanding payments owed to milk‑supplying farmers, but all debts have now been settled.

He further announced that the long‑delayed Badalgama milk factory project will recommence, with capacity to process up to 200,000 liters of milk daily. 

Plans are also underway to upgrade the National Livestock Development Board’s farm in Nikaweratiya, with an additional Rs.1 billion budget allocated to supply high‑yield dairy heifers and male stock to local farmers. (Newswire)

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Local milk producer, Milco Private Limited, has announced an increase in the price of imported milk powder.

Accordingly, the price of a 400g pack of imported milk powder has been increased by Rs. 100, with the new price being Rs. 1200. 

The price of a 1 kilo pack of imported milk powder has been increased by Rs. 250. (Newswire)

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Local milk producer, Milco Private Limited, has announced plans to establish 500 milk sales outlets across Sri Lanka.

According to reports, the sales outlets would be established in partnership with 500 local dairy entrepreneurs.

Milco Chairman, G.V.H. Gotabhaya, says the initiative aims to strengthen the local dairy industry by boosting domestic milk production and improving access to fresh dairy products. 

The project, launched with the assistance of the Regional Development Bank, will see the bank providing financial and logistical support for participating entrepreneurs. (Newswire)

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Local milk producer, Milco Private Limited, has announced a reduction in the price of several of its products, effective from today (01 Apr). 

Accordingly, the price of a Highland yoghurt cup has been reduced by Rs. 10, with the new price being Rs. 70.

The prices of several fresh milk products have also been reduced as follows;

• 450ml sterilised milk – reduced from Rs. 225 to Rs. 200
• 450ml fresh milk packet – reduced from Rs. 200 to Rs. 170
• 900ml fresh milk packet – reduced from Rs. 440 to Rs. 380

Milco Private Limited states the price reduction has been implemented to provide concessions to the public. (Newswire)

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Chairman of Local milk producer, Milco Private Limited, H. Gotabhaya has disclosed financial fraud in the institution reported during the tenure of the previous regime. 

Addressing the media, H.Gotabhaya said all necessary measures had been taken to sell Milco Private Limited to India.

He further said that all four factories of Milco and other relevant properties were estimated for a paltry sum of Rs. 25 billion. 

“In 2023 it was reported that Milco had incurred a loss of Rs. 501 billion. But as of December 2024, we have reduced it to Rs. 34 million,” the Milco Chairman said. 

Addressing allegations that Milco products are hard to find for purchase, he said all measures are being taken to address issues related to the sale of Milco products. 

Milco Chairman H.Gotabhaya further announced that no decision has been taken with regard to increasing the prices of their products. 

He added that, however, there is a possibility for a price drop with the removal of Value Added Tax (VAT) on certain products. (Newswire)

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Local milk producer, Milco Private Limited has achieved a monthly sales target of Rs.2 billion in October, it was reported. 

According to the Daily News, Livestock Ministry Secretary Nishantha Wickramasinghe said this marks the highest revenue recorded within a single month.

Wickramasinghe, however, pointed out that Milco currently holds an outstanding bank loan of Rs.1.8 billion with an annual interest payment of Rs.240 million.

“Reaching this target within a month after the new government took office is a positive achievement. While the previous government had decided to sell Milco due to prolonged losses, the new government has plans to turn it into a profitable entity,” he said.  

Meanwhile, Milco’s current Chairman, Hemajeeva Gotabhaya revealed that the revenue target had been achieved amidst poor financial conditions, such as a two-week payment delay to dairy farmers and the internal audit division being inactive for years leading to a lack of proper auditing and account verification.

Stating that the board of directors are working to transform Milco into a profitable organisation, he said that plans are underway to ensure that Milco products are available to consumers across the country. (Newswire)

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Local milk producer, Milco Private Limited has announced a price reduction for its milk powder products effective from midnight today.

Accordingly, the price of a 1kg packet of Milco milk powder has been reduced by Rs 190, with the new price being Rs.2585.

Meanwhile, a 400g packet of Milco milk powder has been reduced by Rs.75, with the new price being Rs.1050. (Newswire)

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Chairman of the state-owned dairy producer and marketer, MILCO, Renuka Perera has tendered his resignation. 

Perera announced his resignation via a letter to the Secretary of the Ministry of Finance. 

In his letter, Renuka Perera has cited objections to the privatization of MILCO despite its profitability.

Stating that the company had increased the cost of milk procured from local dairy farmers despite the economic difficulties, he added that the company still offers milk powder for a lesser price than other companies.

Pointing out the recent developments of the MILCO company under his leadership, Renuka Perera objected to the company being privatized with the involvement of an Indian Company.

In October this year, it was revealed that MILCO was among 33 dairy farms owned by the National Livestock Development Board (NLDB), which were to be sold.

At the time, it was also reported that  Cabinet approval was received to sell Milco to India’s Amul Dairy Company.

MILCO Chairman Renuka Perera’s resignation comes in the backdrop of such moves by the government. (NewsWire)

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Plans are underway to sell 33 dairy farms owned by the National Livestock Development Board (NLDB), including Milco and Highland, National Peoples’ Power (NPP) Leader MP Anura Kumara Dissanayake alleged.

MP Dissanayake told the NPP Mawanella Electoral Convention, that the Sri Lankan dairy farms are to be sold to India’s Amul Dairy Company.

Stating that Cabinet approval has been received to sell Milco, the MP said that a Cabinet proposal has been finalised to sell off ‘Highland’ to India’s Amul Dairy Company.

He further said that the Adigama, Ridiyagama, Narammala and Polonnaruwa dairy farms are among 21 dairy farms belonging to the NLDB that are to be sold under the proposed plan. 

MP Dissanayake pointed out that two committees have been appointed for this purpose.

“One committee has been tasked with valuing the land, trees and plantation in the farms. The second committee headed by the NLDB Director General is tasked with valuing the animals and equipment in the farms,” he added. (NewsWire) 

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Local milk producer, Milco Private Limited, has requested cattle farmers to take necessary measures to protect their animals due to the prevalent hot weather in Sri Lanka. 

Issuing a notice, Milco stated that the Department of Meteorology expects extreme heat in the Western, Southern, North-Central, and North-Western Provinces, and the Kurunegala, Mullaitivu, Vavuniya and Kilinochchi Districts today and tomorrow. 

Thereby, Milco has requested cattle farmers to ensure the safety of their animals by placing them inside shelters and providing them ample water to drink during this period. (NewsWire)

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Local milk powder producers have announced there will be no reduction in milk powder prices, despite a reduction in the prices of imported milk powder.

Last week, milk powder importers in Sri Lanka announced that the price of imported milk powder will be reduced from today (27). 

According to the importers, the price of a 1kg packet of imported milk powder has been reduced by Rs. 200, with the new price at Rs. 2900.

The price of a 400-gram packet of imported milk powder has been reduced by Rs. 80 with the new price of Rs. 1160.

However, according to Hiru News, local milk powder producers Milco and Pelwatte have announced there will be no reduction in the prices of locally produced milk powder.

The Chairman of MILCO Private Limited Renuka Perera stated that this was due to a reduction in the stock of milk obtained from local farmers.

Perera said that local farmers who were providing nearly 1.2 million litres of milk on a daily basis are now only providing 500,000 litres of milk.

Milco Chairman said that thereby, it was impossible to reduce the prices of locally produced milk powder at present. 

Meanwhile, the Chairman of Pelwatte Dairy Industries Limited, Ariyaseela Wickramanayake said there was no requirement to reduce the price of locally produced milk powder due to a reduction in the price of imported milk powder. (NewsWire)

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