Milk prices to rise in July

Rappler.com

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Milk prices to rise in July
DTI, however, rejects the price hike request of some bottled water brands

MANILA, Philippines – After garlic and sugar, now milk prices will increase effective July 1.

Several manufacturers submitted their proposals for an increase in their suggested retail prices (SRPs) of milk, DTI Undersecretary Victorio Mario Dimagiba said in a statement.

The price increase though will only be minimal, the Department of Trade and Industry (DTI), said Wednesday, June 18.

DTI agreed to a 0.06 to 8% increase in the SRPs for several brands of evaporated, condensed, and powdered milk due to the price increases of their raw materials such as skimmed and whole milk.

The increase in prices of milk is driven by strong demand from China.

Effective July 1, the price of imported skimmed milk from New Zealand will be up 40.12% per metric ton, while the whole milk will climb by 48.64%.

Following are the new SRPs for select milk brands:

  • Snow Mountain Dairy Corp. (Angel) evaporated milk 410 ml – P38.15 (from P36.89)
  • Birch Tree full cream powdered milk 150 gms – P58.10 (from P53.80)
  • Nestlé Philippines’ Nido Fortified 160 gms – P77.42 (from P77)
  • Nestlé Philippines’ Bear Brand 150 gms – P51 (from P48.50)
  • Alaska condensed milk 300 ml – P53 (from P51.30)
  • Alaska evaporated milk 300 ml – P38.20 (from P37)
  • Milkmaid condensed milk 300 ml – P65.85 (from P63.20)
  • Alpine full cream evaporated milk 370 ml – P52. 60 (from P50.60)

DTI, however, rejected the request of some bottled water brands to increase their SRPs.

The proposals of some manufacturers for an increase in the prices of bottled water was unjustifiable “because the increase was not in the production cost but merely on a marketing strategy,” Dimagiba said.

DTI is also evaluating SRPs for canned goods.

“The DTI checks and balances the SRPs of basic and prime commodities in the market to be certain that these prices are just appropriate for consumers’ value for money,” Dimagiba said. – Rappler.com

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