Nestle denies price hike on milk powder
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Nestle S.A., the Switzerland-based food and beverage maker, denied recent media reports that it would increase the price of its milk powder products by about 10 percent, the National Business Daily reported Friday.
Nestle didn't announce any price increases recently, Nestle's public relations manager He Tong told the newspaper. However, he admitted that dairy product makers are facing rising pressure because of commodity price hikes.
A staff member at a Carrefour store also said that price of Nestle milk powder products hasn’t changed recently, and the supermarket hasn't received any notices of a price hike.
China's business press carried the story above on Friday. China.org.cn has not checked the stories and does not vouch for their accuracy.
