Retail milk prices are set to increase by 5-12% above wholesale prices.

This difference is still lower than the stipulated level of 15%.

The Ministry of Finance has just publicly released the recommended wholesale and retail prices of six manufacturers and distributors of infant formula for children under 6 years old. This is to allow localities to inspect and review the pricing practices of these six businesses in their respective areas.

Accordingly, in addition to wholesale prices, the six businesses also provided recommended retail prices for consumers for 181 products.

The six dairy production and trading companies include Mead Johnson Nutrition Vietnam, 3A Nutrition JSC - distributor of Abbott dairy products, Nestlé Vietnam Co., Ltd., Tien Tien Distribution Co., Ltd. - exclusive distributor of Mead Johnson dairy products, Organic Trading & Development Vietnam JSC, and Friesland Campina Vietnam.

Among 181 products, Abbott's Similac GainPlus IQ (with Intelli-Pro) 1.7kg has the highest recommended retail price at 727,000 VND/box. Next is Baby's Only Organic (0-12 months) 900g from Organic Vietnam Trading & Development Joint Stock Company at 710,000 VND/box…

Representatives from the Price Management Department (Ministry of Finance) stated that the retail price increase recommended by businesses is only 5-12% of the wholesale price, lower than the regulated 15% increase of the wholesale price.

In addition, the Ministry of Finance also requested local Departments of Finance to use the maximum wholesale price list, registered price, and recommended retail price to inspect, review, and monitor the determination of maximum retail prices and the registration of retail prices to consumers.

From tomorrow, June 21st, retail milk prices will officially be capped according to regulations set by the Ministry of Finance. To protect consumer rights, the Ministry of Finance and the Ministry of Industry and Trade have announced a hotline to receive feedback on milk prices.

Regarding the business activities of organizations and individuals related to milk, or suggestions and complaints concerning violations of wholesale and retail prices of milk for children under 6 years old, please contact Mr. Vu Van Hoa - Market Management Department, Ministry of Industry and Trade, phone number: 0913020529; Mr. Hoang Thanh Hai - Price Management Department, phone number: 04.22202828 (4227), mobile: 0932240509./.

According toYouth