Business | Markets
Milk powder prices set to decline
The price of milk powder in the country is set to drop as the UAE Ministry of Economy is working with leading suppliers to adjust their prices in line with international prices.
- Staff Report
- Published: 23:58 January 6, 2009
- Image Credit:
Dubai: The price of milk powder in the country is set to drop as the UAE Ministry of Economy is working with leading suppliers to adjust their prices in line with international prices.
Minister of Economy Sultan Bin Saeed Al Mansouri praised the initiative of suppliers in reducing milk powder prices.
"The ministry is keen to ensure market stability by preventing manipulators from hiking commodity prices," Al Mansouri said.
Hashim Al Nuaimi, director of the Consumer Protection Department at the ministry, recently held a meeting with milk suppliers in the country and discussed the issue of reducing milk powder prices in order to match the 50 per cent fall of milk prices internationally.
The ministry said the suppliers have agreed to sell milk powder within a price range of Dh45-65. It did not say if the prices of fresh milk are also being reduced.
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