Milk price management reviewed before new rules take effect

December 21, 2016 | 09:17

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Many provinces have reviewed the price management activities for milk and other supplementary dietary products for children under six years of age, the Ministry of Industry and Trade has said.

Customers choose milk products at Saigon Co.op Mart. Prices of milk products for children under six years of age will be managed under new rules since the early next year. - VNA Photo Thanh Vu

The reviews were done ahead of the deadline to implement the Government’s Decree 149 on regulations for managing the price for milk and other supplementary dietary products of children under six, which comes into effect on January 1, 2017.

The People’s Committee of Bac Ninh Province has assigned the provincial department of industry and trade and the finance department to review the production and trading of these products. This will mean that organisations and individuals producing and trading milk and supplementary dietary products have to list and register the prices of the products.

The departments will review the price listing and registration forms, and Bac Ninh’s department of industry and trade will manage the rates based on Decree 149, reported Zing News.

Ha Tinh and several other provinces said they would also conduct similar activities to implement Decree 149.

On November 11, 2016, the government issued Decree 149, amending some articles of Decree 177, adding some articles to it and providing specific guidance on implementing some articles under the price law.

Until now, the finance ministry has managed the prices of milk products meant for children under six years of age. But from January 1, the ministry of industry and trade will take over the responsibility.

Milk products are included in the list for price stabilisation and have a ceiling price since June 2014. As per the ceiling price mechanism, the retail price can be maximum at 115 per cent of the wholesale price.

At present, 877 milk products for children under six have been listed and their registered prices released on the websites of the finance ministry and local finance departments across the nation.

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