Prices of imported milk powder fall
( chinadaily.com.cn )
Updated: 2013-07-16
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Foreign milk powder firms - including Wyeth, Friso, Dumex, Meiji, Beingmate and Abbott - have cut the prices of their products in supermarkets in Zhangjiagang by 4 to 20 percent since early July, according to local media. The price cuts were the result of the National Development and Reform Commission’s anti-trust investigation into foreign milk powder brands that began July 1.
Many residents said there should be bigger price reductions as the prices in China are 2-3 times higher than the price in the country where the product was manufactured.
People in China are increasingly interested in the quality of milk powder brands. Prices of imported milk powder have risen 5 years in a row and are still very popular around the country, and industry sources said this shows that local brands have lost their credibility in China. Foreign brands will be forced to cut their prices sharply when Chinese people will once again start to trust their own milk powder brands.