Global trends sour local milk prices

HANOI - The retail price of milk continues to climb, according to reports from supermarkets and other retail and wholesale outlets in both Ha Noi and HCM City, despite a reduction in import tariffs made in line with the nation’s commitments to the WTO.

Under its road map to fulfilling its WTO commitments, Viet Nam will cut the import tariffs on imported processed dairy products to 5 per cent over the next five years.

Some Ha Noi agents said that producers and distributors have increased prices as a result of increasing international prices. Local milk processors are also still highly dependent on imports, importing about 80 per cent of the milk powder they use.

The director of one milk processing plant said that importers had been warned that the price of imported milk powder would start to rise by as much as 40 per cent beginning last month.

The price of milk powder rose strongly when import tariffs had not yet been reduced significantly, with a result of higher prices for consumers, the director said.

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Source: Viet Nam News

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