Thu, Mar 02, 2017 - Page 12 News List

Uni-President to raise retail prices of its fresh milk

PASSING COSTS ON:The price adjustments were made to reflect increasing raw milk costs and investments to improve product quality, UPE said

By Kuo Chia-erh  /  Staff reporter

Food manufacturing conglomerate Uni-President Enterprises Corp (UPE, 統一企業) yesterday said it is to raise the retail price of its fresh milk by 4 to 6 percent to reflect increasing costs.

UPE, which distributes milk products under its Ruisui Milk brand, is the largest fresh-milk seller in the nation, with a nearly 45 percent market share.

The price hikes would be the company’s first price increases since 2012.

The latest price adjustments are being made to reflect increasing raw milk procurement prices over the past two years and cumulative investments in related facilities to improve product quality, UPE said.

The conglomerate’s local peers said they would not increase prices, in a bid to ensure price stability.

I-Mei Foods Co (義美食品) yesterday said it would absorb extra costs to avoid fluctuations in product prices, while Wei Chuan Foods Corp (味全食品) said it does not have plans to adjust product prices.

In related news, President Chain Store Corp (PCSC, 統一超商) yesterday also said it would not adjust the prices of its coffee after UPE’s price hikes.

PCSC, which runs more than 5,100 7-Eleven outlets in Taiwan, is a major affiliate of UPE.

This story has been viewed 4495 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top