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NEWS UPDATES 20 November 2009

Vietnam may cap local dairy product prices

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Vietnam’s Ministry of Industry and Trade has rejected reports that dairy product prices in the country are the highest in the region, reported VietNamNet.

“The price is Vietnam is high, but not the highest,” he said, adding that he ordered Vietnamese embassies in foreign countries to collect information about the dairy product prices.

However, Hoang said that some businesses have taken unfair advantage of the current regulations to raise sale prices of dairy products. Hoang said that his ministry made inspection tours in September and released decisions disciplining some enterprises which were found to be violating current regulations.

Local daily Lao dong has reported that consumers are now complaining about 5,000-20,000 dong per can increases in the price of powder milk.

According to the Ministry of Industry and Trade, powdered milk, the material for making dairy products, has been decreasing significantly, while prices in Vietnam have not increased at all. Instead they have stayed higher by 20-25 percent than prices in other regional countries.

Meanwhile, the Ministry of Finance is proposing to add dairy products to the list of goods put under the state management. If so, dairy product suppliers and traders have to register the sale prices of dairy products and register their operation.


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