The Ministry confirmed Mead Johnson Nutrition began 2014 by raising the prices of nine of its 35 milk products.
(VOV) – The Ministry of Finance will cooperate with the relevant bodies to carefully manage domestic milk prices after one milk trader raised its retail price and with other traders expected to follow suit.
Mead Johnson Nutrition says the increases were responses to a 12.6-12.8% surge in import costs last August. Losses incurred from other products also contributed to the decision.
Nguyen Anh Tuan the Ministry of Finance’s Price Management Department Director, said other dairy traders were asked to review their pricing strategies before proposing any price increases to the ministry.
Existing regulations stipulate all six Vietnamese dairy traders must register any retail price changes for the Ministry of Finance’s official approval. The six traders are the Friesland Campina Viet Nam Ltd Co., Mead Johnson Nutrition Vietnam Ltd Co., Dinh Duong 3A Ltd Co., Tien Tien Distribution Ltd Co., Nestle Vietnam Ltd Co., and Organic Vietnam Trading and Development Joint Stock Co.
Tuan noted the ministry has yet to give the green light to the proposed price hike. Instead, it has asked the company for a more detailed explanation of its motivating reasons.
Four milk traders have thus far registered no retail price increases. Milk products typically rise at the start of the year, before stabilizing, Tuan said.
The department will follow developments closely and work to protect market stability.
The ministry has asked the Ministry of Industry and Trade and other relevant ministries for assistance with monitoring the dairy market.
Đăng ký: VietNam News
