20 March, 2008 – Nestlé has confirmed to FLEXNEWS it intends to raise the price of its milk powder products in China by up to 30%.
The Swiss company, which is the largest food outfit in the world, said the rises of between 5 and 30% will come into effect next month.
Nestlé said the price increases had been made in response to the rising costs of raw materials. The Swiss-based company said its output costs for dairy products had soared by between 12% and 100% in the last year.
The company intends to carry out the move by directly applying price rises to products, by reducing their net content or a combination of the two.