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Government Presses Companies To Limit Price Hike

18 August 2011

SOUTH KOREA - The government has pressed the country's dairy companies to limit price hikes following the recent adjustment in raw milk prices.

The government warns that it will take all necessary measures to penalise businesses that try to make excessive and undue profits.

"There are not many factors that warrant a price increase. (Milk companies) must minimise price hikes or don't raise prices at all," the Ministry of Agriculture, Forestry and Fisheries said in a press release.

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