VIETNAM – Milk prices soar 18% today 01-03-2011

The prices of imported milk start to rise up to 18% from today due to the recent 8.5% devaluation of VND

The prices of imported milk start to rise up to 18% from today due to the recent 8.5% devaluation of VND, the online newspaper VEF reported on February 28, citing local milk distributors.

In details, the prices of Abbott products increased by between 12-18%, Similac IQ 400-gram box rose by 13% to VND215,000/box, Similac IQ 900-gram box increased by 12% to VND437,000/box.

Some milk firms has registered to raise the milk prices with an average increase of between 5-17% from March 1,including Nestle, Frisland Campina, 3A, Abbot and Mead Johnson, Nguyen Anh Tuan, the Ministry of Finance’s Deputy Head of Price Control Department.

The milk prices are currently standing at the high level compared with the average income level of Vietnamese.

The prices of powder milk have increased 16 times with an average rate of between 3%-10% each, following the survey of Vietnam Chamber of Commerce and Industry (VCCI).

Information Vietnam Business News

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