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Vinamilk and Nutifood commit to keep dairy prices stable
Vinamilk and Nutifood, two leading manufacturers of dairy products and baby food, signed an agreement not to increase the prices of milk powder for children and the elderly yesterday.
The deal took place during a meeting with the HCM City Department of Industry and Trade regarding the City's price stabilisation programme.
The current number of goods includes 6,000-6,300 tonnes of products which accounts for around 30-35 per cent of market demand in terms of children and the elderly in HCM City.
Although the two companies committed to keep dairy prices unchanged until the end of 2011, despite possible increases in input cost, both companies are not subject to capital support by the City authority.
Tran Huu Duc, Head of the external affairs department at Nutifood, said that his company selected the two lines of products in commitment better support child and elderly consumers.
In response to potential market price fluctuations, Duc said that his company planned to balance income and expenditure in terms of other product lines in order to help keep prices stable.
Le Ngoc Dao, Deputy Director of the HCM City Department of Industry and Trade, said that the two companies are set to complete price registration at the City Department of Finance for appraisal. Retail prices on the two lines of products will be announced early next week.
In addition, to support business, the City department, in coordination with relevant departments, will disclose nutritional indicators on milk products in the market to enable consumers to choose the best products.
HCM City is currently implementing a price stabilisation program aimed at four commodity groups including food, medicine, milk and other items in preparation for the coming school season. Total program spending of is set to reach VND412 billion (US$19.8 million).
vietnamnews
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