March 28, 2008

China's price regulator approves dairy price hikes

China's National Development and Reform Commission has given a nod to Bright Dairy & Food Co. and Shijiazhuang Sanlu Dairy Co. to proceed with the dairy price increases.

The state planner has approved applications from the two dairies to increase the price of fresh milk products.

The move is part of China's government proposal to increase the cost of a range of necessity items in order to counter inflation, AFX Asia reported.

Bright Dairy posted a jump in annual profits as sales rose 10.3 percnet to RMB8.2 billion (US$1.2billion) earlier this week.