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

The Government has just issued Decree 149 amending and supplementing a number of articles of Decree 177 detailing the implementation of a number of articles of the Law on Prices.

Accordingly, from January 1, 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 manage milk prices, but failed. Illustrative photo.

The Ministry of Health shall preside over and coordinate with the Ministry of Industry and Trade to provide detailed instructions on the list of these products.

The Ministry of Industry and Trade once refused to manage milk prices because it believed that price management was under the authority of the Ministry of Finance. However, since September 10, 2015, the Ministry of Finance has submitted a proposal to the Government to assign the task of managing milk prices for children under 6 years old to the Ministry of Industry and Trade.

The Government believes that transferring milk price management to the Ministry of Industry and Trade is reasonable because this Ministry plays an important role from the import stage to the circulation of milk in the market, with more than 70% of the domestic milk powder supply being imported milk.

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

According to zing.vn