08 May '17, 8am

[Mothership] Milk powder price hikes not due to anti-competitive behaviour, says Koh Poh Koon

The price of infant milk powder has risen sharply over the last few years, and the issue was raised in Parliament on May 8. According to figures from the Department of Statistics, the average price of a 900g tin of infant milk formula doubled between 2004 and 2014. There was also a 10 per cent increase in price in the last two years. The New Paper , for instance, reports that over the past decade, the average price of a tin of milk powder has hiked from $25.42 to $56.06, a rise of about 120 per cent. Addressing questions in Parliament on the issue on Monday, Senior Minister of State for Trade and Industry Koh Poh Koon said a market study by the Competition Commission of Singapore found that the rise in milk powder prices were not due to any anti-competitive behaviour by formula milk manufacturers in Singapore. (And in case you’re wondering what they believe is the actual r...

Full article: http://mothership.sg/2017/05/milk-powder-price-hikes-not-...

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