April 24, 2008

Vietnam's milk prices to surge further

The prices of both imported and locally produced milk in Vietnam are expected to surge higher amid an already 5 to 19 percent increase in March.

Vietnamese milk traders warn that the cost of imported milk will increase by 5 - 7 percent in the next two months.

Milk suppliers have said that the price of imported milk powder and other ingredients climbed to more than 130 percent last year.

Demand for powdered milk in the domestic market has strengthened by 30 percent, suppliers added.

Leading brands, such as Mead Johnson, Abbott, Nestle and Dumex have been offered at higher prices in the supermarkets.

Observers said that there is a need for market-watch controls as retail milk prices may have been higher than the prices announced by the companies.