Milk prices at supermarkets decline
(VOV) - Government officials recently announced that milk prices and related products at supermarkets are falling from between 10% and 20% as a result of a recent decision. A few prices are even exceeding a 20% decrease they report.
According to the Ministry of Finance (MoF)’s decision, the revised wholesale and retail price of milk guidelines technically go into effect as from June 10 and June 21, respectively.
The decision creates a new floor price list for a select list of milk products and directly impacts the prices of products by milk producers such as Abbott, Friesland Campina Vietnam, Mead Johnson, Nestlé, and Vinamilk.
A representative from Co.opmart said that the supermarket has already implemented the new pricing guidelines on 12 milk products it sells by Abbot, Mead Johnson and Nestle. The new prices have decreased by up to VND35,000 for each tin, the representative said.
Big C External Director Ho Quoc Nguyen said that starting in early June, Big C adjusted the retail prices of milk products by Abbot and Nestle and a number of other providers under the MoF’s floor prices. Sales prices have been reduced from 10% to over 20% depending on each product, Big C reports.
Milk stores said that there are few Enfamil A+ and Enfa Grow A products which are in the floor price list in the local market. However, they report that a few milk products which are not in the floor price list, have actually risen in price, up VND 45,000-50,000 for each tin.
Vietnam Standards and Consumer Rights Protection Association Vice President Nguyen Manh Hung said that there are positive signs in the price of milk products in the domestic market these days.
The milk prices for children under six years of age have decreased remarkably, he said. Especially, the prices of Abbot’s milk products have been falling as a result of the MoF’s decision.