Vietnamese Milk Firms Raise Prices by 10%
Friesland Campina Vietnam decided to raise prices of milk products by 8%-10% from this month.
Nguyen Ngoc Kinh Luan, manager of the company’s public relation office explained that rising production cost forced them to raise products’ prices. Late last year, the company raised its milk prices by 10%, he added.
Friesland Campina Vietnam is now offering such famous milk brands as Friso Gold, FrisoMum and Frisolac Comfort.
Earlier, Nestle raised prices of its milk products including Nan 2 and Lactogen 2 by 5%-7%.
Mead Johnson and Abbott also raised their milk prices by 7%-9%.
According to the General Customs Department, around 200 companies in Vietnam are importing milk material and milk products.
A recent survey by the Ministry of Industry and Trade showed that Vietnamese companies are selling milk products for prices 20%-100% higher than that in regional countries like Thailand, Malaysia, Indonesia, and South Korea and even in New Zealand, Australia and the U.S.
The Finance Ministry had announced a survey concluding that costly advertisement and marketing push milk prices up in Vietnam.
Vietnam is now meeting only 28% of its domestic demand for fresh milk, forcing domestic companies to import 72% of powdered milk for processing. (Youth)
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