Importers promise no rise to price of milk powders
November 2, 2012, 12:12 am TWN
TAIPEI -- The distributors of imported milk powder products have promised not to increase prices, as part of efforts to stabilize local fluctuations, the Executive Yuan said in a statement released Thursday.
The move followed a meeting called by Vice Premier Jiang Yi-huah in October to ask dairy product companies, which had reportedly been planning to reflect rising material costs by boosting their prices, to join with the government in tackling the price issues.
In the statement, Jyh Ferng enterprise Co., Ltd. in Tainan, southern Taiwan, which imports infant nutritional products from Japan and other countries, said it will absorb the increased material costs and will not adjust its prices in the short term.
Other importers, including Abbott Taiwan, Standard Foods Corp., Mead Johnson Nutrition (Taiwan) Ltd. and Orient Europharma Co., Ltd., also agreed to maintain their current price level, the statement said. Wyeth Pharmaceuticals' subsidiary in Taiwan and Nestle Taiwan Ltd. will both hold promotions for new products, they said. This will be a first for Nestle, which has not held a sales promotion in its 25 years in Taiwan.