The price of there infant milk powder continues to increase. Between 2004 and 2014, the average price of a 900g tin increases a further 10 percent in the past 2 years, according to figures from the Singapore Department of Statistics Overall. For the past decade, the average price of 900g tin has gone up from $25.42 to $56.06, a rise of about 120 percent.

Although the number of substitutes available is generally broad, the prices of the substitutes increase by a similar percentage, leading to similar prices among all the brands. This means that the number of substitutes available to the customer is smaller, the more price inelastic the infant milk powder will be. 

Additionally, infant milk powder is a necessity for parents who have a small child at home, they have no choice but to fork out money to buy infant milk powder although it increases in price. Hence, infant milk powder is price inelastic.

 http://www.straitstimes.com/singapore/milk-powder-price-woes 

The dairy market in Ratnapura District has a short run production. This is due to having at least 1 fixed resource such as cows, farms, equipment. The rest are variable resources such as labour
and feed.

Total Fixed Cost = Depreciation of herd expenses
                                 + Depreciation of building 
                                 expenses 

                              = Rs. 6128.57 + Rs. 7983.13 
                              = Rs.  14111.70/year

Total Variable Cost = Labour Cost + Feed Cost +
                                      Veterinary Cost + Building 
                                      Repair Cost + 

                                      Cost of Death and Losses +
                                      Breeding and Miscellaneous 
                                      Cost

                                    = Rs. (200750 + 189824 +
                                       14566.90 + 2731.30 + 
                                       22305.60 + 10925.20)

                                    = Rs. 441103.00/year

Total Cost = TFC + TVC
                   = Rs. 455214.70/year

In addition,  they are consuming the same volume of beverages–but just not as much milk. The reasons range from changing demographics (for example baby boomers and Hispanics, two high growth groups, are drinking less milk) to lack of innovation, to some price volatility, to more competition.