The Ministry of Finance & Industry and Trade operated a thorough inspection of milk prices at the five largest producers on March 4.
|Customer choosing milk for kids at a supermarket in HCMC (Filed photo: SGGP)|
These companies include Mead Johnson, Nestle Vietnam, Vinamilk, Friesland Campina and 3A Nutrition Company, said Nguyen Anh Tuan, head of the Agency for Price Management. Results of the inspection will soon be released. These companies will be punished if they break price regulations.
The ministries will implement a subsidization plan if the prices continue to rise. All of these companies, excluding 3A Nutrition Company, recently increased price of milk. This drastically affects families with children under six years old.
Chairman of the Vietnam Fatherland Front Central Committee Nguyen Thien Nhan reported the issue during a cabinet meeting on February 28.
Prime Minister Nguyen Tan Dung instructed the ministries to inspect prices.