>> Milk prices go up 16 times in 3 years
The price of various brands of powdered milk will rise by between 6% and 20% next month.
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According to one retail seller on Ngoc Ha Street, in Hanoi, they’ve received a new price list for powdered milk products, including brands such as Ensure, PediaSure and Similac, all produced by Abbott; and Friso Gold by Friesland Campina Vietnam.
The operators of shops along Truong Chinh Street commented that prices of several milk products have gone up by 10% in the course of a week. They also confirmed reports about coming price increases.
3A Pharmaceutical Co., Ltd , the authorised distributor of Abbott’s milk products, will up their prices by 12% to 18%, from March 1.
Since February 8, Friesland Campina Vietnam has increased their prices on more than 20 different powered milk products, sold under the Frisco and Dutch Lady brands, by 5% to 10%.
Among the reasons are the strong USD in relation to the VND, as well as a 10% increase in milk import tariffs.
According to a survey by the Vietnam Chamber of Commerce and Industry (VCCI) released in late October 2010, powdered milk prices in Vietnam have seen 16 increases in the period from 2008 to 2010.