Powdered milk price ceiling imposed from June 1st - Website Ho Chi Minh City
According to guidance of Prime Minister, from June 1, 2015 till end of December 31, 2016, powdered milk price ceiling will be imposed for children under 6 age.
In the process of maximum price management as announced, if there are objective reasons affecting milk price, State owned agencies on price are responsible for reviewing, determining the maximum price rate. Milk producers and traders must submit price list of their products to Ministry of Finance.
The Prime Minister assigns Ministry of Finance the job of chairing and coordinating with Ministry of Trade and Industry, Ministry of Health and relevant agencies, People’s Committees of provinces and cities under central government to implement, to inspect and find out violations of law on price management of the State. Any violation must be settled according to the law.
Most of milk products for children under 6 years old have been imposed price ceiling from June 1, 2014 and will be expired on June 1, 2015. Till now, functional organs have announced price ceilings for 600 powdered milk products. Accordingly, retail prices of these products must not exceed 15% of the price ceilings. According to the Ministry of Finance, after imposing price stabilization measures, from June 2014, milk price for children under 6 age is down and stable. Reduction rate is 0,1 -34% depending on types of milk compared to prior application of price stabilization measures.