NewsWhore
02-03-2009, 06:10 PM
Nestle Dominicana has reduced the prices of powdered milk by between13% and 20%. A company press release says that the decision was taken on the basis of the country's current macro-economic conditions. Last week, President Leonel Fernandez met with local producers and importers of products whose raw materials had gone down in price on the international markets.
Nestle Dominicana announced the price reduction for all products except those that are produced nationally.
The company added that the international powdered milk prices had gone up over the second quarter of last year, "an unprecedented price increase, shooting up from US$2,600 to US$5,000 per metric ton." For this reason, the government, as a way of diminishing the impact on the public, made a special, temporary, concession, and lowered import tariffs from 20% to 8%. Nevertheless, this year began with powdered milk going down in price, reaching about US$2,500 and the customs tariff returned to 20%.
Nestle announced that an 1800g can of Instant Nido was 19% cheaper, while a 2500g package, known as Jumbo, was 17% lower, as well as a 390g package that was 13% less. They also reduced the price of Anchor powdered milk in 2500g cans by 11%.
Local milk production has maintained it price, "due to the fact that national producers have costs in their dairy farms that do not allow for a price reduction, according to the cost reports on a liter of milk as reported by (milk producers association) Conaleche."
More... (http://www.dr1.com/index.html#6)
Nestle Dominicana announced the price reduction for all products except those that are produced nationally.
The company added that the international powdered milk prices had gone up over the second quarter of last year, "an unprecedented price increase, shooting up from US$2,600 to US$5,000 per metric ton." For this reason, the government, as a way of diminishing the impact on the public, made a special, temporary, concession, and lowered import tariffs from 20% to 8%. Nevertheless, this year began with powdered milk going down in price, reaching about US$2,500 and the customs tariff returned to 20%.
Nestle announced that an 1800g can of Instant Nido was 19% cheaper, while a 2500g package, known as Jumbo, was 17% lower, as well as a 390g package that was 13% less. They also reduced the price of Anchor powdered milk in 2500g cans by 11%.
Local milk production has maintained it price, "due to the fact that national producers have costs in their dairy farms that do not allow for a price reduction, according to the cost reports on a liter of milk as reported by (milk producers association) Conaleche."
More... (http://www.dr1.com/index.html#6)