Since 2017, the Ministry of Industry and Trade has been managing milk prices.

The government has just issued Decree 149, amending and supplementing some articles of Decree 177, which provides detailed guidance on the implementation of some articles of the Law on Prices.

Accordingly, from January 1st onwards, the Ministry of Industry and Trade will replace the Ministry of Finance in receiving and reviewing price registration forms for functional foods for children under 6 years old, including milk products.

The Ministry of Industry and Trade refused to regulate milk prices, but failed. (Illustrative image.)

The Ministry of Health, in coordination with the Ministry of Industry and Trade, will provide detailed guidance on the list of these items.

The Ministry of Industry and Trade previously refused to manage milk prices, arguing that price management issues fell under the authority of the Ministry of Finance. However, since September 10, 2015, the Ministry of Finance has submitted a proposal to the Government recommending that the Ministry of Industry and Trade be assigned the task of managing milk prices for children under 6 years old.

The government believes that transferring milk price management to the Ministry of Industry and Trade is reasonable because the Ministry plays a crucial role from the import stage to the distribution of milk in the market, with over 70% of the domestic powdered milk supply being imported.

In Vietnam, there are currently about 877 infant formula products for children under 6 years old with published maximum prices, registered prices, and declared prices.

According to zing.vn