The Ministry of Finance's Price Management Department has asked sixdairy producers to report on their retail milk prices for products aimedat children aged under six years old.
Thebusinesses are Mead Johnson Nutrition (Vietnam) Company, 3A Nutrition(Vietnam) Company, Nestle Vietnam, Tien Tien Distribution Company,FrieslandCampina Vietnam, and Organic Vietnam.
According to the ministry, under the Price Law dated June 20, 2012,Clause 2, Article 15, milk prices for children under six years old aresubject to government regulation.
On October 4, theMinistry of Health issued a circular defining milk for those childrenas a product whose prices will be put under the Ministry of Finance'smanagement.
The list also includes milk products andfood supplements for children under 36 months old as well as milk andnutritional products containing milk regardless of whether or not itcontains supplements.
Liquid milk for children undersix will also be put under the same controls. This circular will comeinto effect from November 20, 2013.
According to thePrice Law, which took effect on January 1, this year all enterprises –referring to producers, importers, and distributors – are required toreport any proposed hike in the price of milk for the infants to thePrice Management Department.
By doing so,milk companies are obliged to declare any increase or decrease in theretail price of milk aimed at the under-six market segment prior toNovember 25, 2013.
Deputy Minister of Finance TranVan Hieu has also asked his department and other market watch divisionsto inspect the price declarations and list the retail prices set by milkproducers and traders. He said if any violation was found it would behandled strictly and publicised.
In addition, theMinistry of Finance also asked People's Committees in the provinces andcities to report on the development of milk products for children undersix so as to identify any emergent problems.-VNA
Thebusinesses are Mead Johnson Nutrition (Vietnam) Company, 3A Nutrition(Vietnam) Company, Nestle Vietnam, Tien Tien Distribution Company,FrieslandCampina Vietnam, and Organic Vietnam.
According to the ministry, under the Price Law dated June 20, 2012,Clause 2, Article 15, milk prices for children under six years old aresubject to government regulation.
On October 4, theMinistry of Health issued a circular defining milk for those childrenas a product whose prices will be put under the Ministry of Finance'smanagement.
The list also includes milk products andfood supplements for children under 36 months old as well as milk andnutritional products containing milk regardless of whether or not itcontains supplements.
Liquid milk for children undersix will also be put under the same controls. This circular will comeinto effect from November 20, 2013.
According to thePrice Law, which took effect on January 1, this year all enterprises –referring to producers, importers, and distributors – are required toreport any proposed hike in the price of milk for the infants to thePrice Management Department.
By doing so,milk companies are obliged to declare any increase or decrease in theretail price of milk aimed at the under-six market segment prior toNovember 25, 2013.
Deputy Minister of Finance TranVan Hieu has also asked his department and other market watch divisionsto inspect the price declarations and list the retail prices set by milkproducers and traders. He said if any violation was found it would behandled strictly and publicised.
In addition, theMinistry of Finance also asked People's Committees in the provinces andcities to report on the development of milk products for children undersix so as to identify any emergent problems.-VNA
