China’s price regulator, the National Development and Reform Commission, has given Bright Dairy & Food Co. and Shijiazhuang Sanlu Dairy Co the go-ahead to increase selling prices.
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According to local reports, the state planner has approved applications from the two dairies to increase the price of fresh milk products.
The move is part of the Chinese government’s proposal to increase the cost of a range of necessity items in order to counter inflation, AFX Asia has reported.
Earlier this week, Bright Dairy posted a jump in annual profits as sales rose 10.3% to CNY8.2bn (US$1.2bn).
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