Dairy businesses must declare prices to the Ministry of Industry and Trade.

Businesses selling milk for children under 6 years old will determine their own reasonable prices and register and declare prices with the Ministry of Industry and Trade - the agency responsible for supervision at the final retail stage.

The management agency will officially remove the price ceiling for milk for children under 6 years old.

This is one of the contents of the draft Circular on price management of milk products for children under 6 years old that is being drafted and commented on by the Ministry of Industry and Trade.

However, according to Mr. Nguyen Loc An - Deputy Director of the Domestic Market Department (Ministry of Industry and Trade), this agency will soon remove the regulation on the ceiling price of milk because this product has competition in the market.

Instead, the authorities will “manage” milk prices by allowing businesses to determine their own retail prices, register or declare them with state agencies, and notify the final price to their distribution systems. Businesses will also be responsible for product quality throughout the entire distribution chain nationwide.

"This will be the ceiling price of dairy products sold in the entire distribution system of enterprises," said a representative of the Ministry of Industry and Trade. The management agency, directly the Ministry of Industry and Trade, after reviewing the suitability of the registered or declared price, will notify the above price and information about the distribution system of each enterprise and key cooperative to the management agencies in the localities to coordinate price monitoring at the final retail stage.

The Ministry of Industry and Trade believes that this management method will help trace the origin of goods, control quality, prices... Along with that, it also determines the responsibility of businesses and cooperatives when there are violations or can recall products in case of product quality problems.

Milk products for children have been officially managed by the Ministry of Industry and Trade since the beginning of 2017, replacing the Ministry of Finance. Previously, since June 2014, this product was included in the list of stabilized goods and had its wholesale price ceiling applied after a series of ineffective solutions such as registration and price declaration. Accordingly, the authorities announced the wholesale price ceiling for more than 600 powdered milk products. The retail price must not be more than 15% higher than the wholesale price.

According to VNE