Following discussions with the UAE Ministry of Economy, Nestle has agreed to reduce the prices of milk products by 15% starting from today January 12, 2008. This comes in line with the Ministry’s efforts to reduce essential commodity prices in accordance with international prices.
The price reduction also applies to Nido milk powder, which will now be priced at AED63 for 2.5 kg, from AED74.50.
Dr Hashim Al Nuaimi, Director of Consumer Protection Department at the Ministry of Economy, said that the Ministry is committed to strengthening co-ordination with the suppliers of various essential commodities to ensure that the prices are reduced, as and where possible, and in line with international trends.
Al Nuaimi praised the initiative of Nestle in reducing milk products prices and said that it reflected their corporate social responsibility towards the UAE consumers.
“The Ministry is keen to ensure market stability by preventing manipulators from hiking commodity prices,†Al Nuaimi said. “We will take serious actions against any attempt aimed at disrupting the market equilibrium.â€
Dr Hashim Al Nuaimi, recently, chaired a meeting with the milk suppliers from all over the UAE and discussed the issue of reducing milk powder prices in order to match the 50 per cent fall of milk prices internationally. The suppliers, thereupon, agreed to reduce milk powder prices.
For further information, please contact:
Nedal Al Asaad / Nizar Aridi
ASDA’A Burson Marsteller
E-mail: n.alasaad@asdaa.com, n.aridi@asdaa.com
