Vietnam to cap prices for formula for kids under six

The Ministry of Industry and Trade (MoIT) yesterday announced it will put ceiling on  wholesale and retail prices of dairy goods for children under six years old from now to end of March.

A few days ago, the Ministry of Finance transferred management of dairy products to MoIT.

Accordingly, MoIT ordered businesses and distributors of milk products to verify the price cap for wholesale and retail and write report to responsible agencies for registration.

After the authority approved the price cap, these businesses and companies must publicize the price of milk products in the shops distribution channels as per the regulation.

Responsible agencies must also show the cap price of milk product to the public and to the Ministry as well as pay visits to businesses and shops to inspect how much dairy products are sold in these places.

People’s committees in cities and provinces must monitor the price of the products.

By Phuc Hau – translated by Uyen Phuong

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