Milk price hike looms

MANILA—Prices of liquid milk products will soon increase due to increase in price of liquid milk materials, Trade Secretary Gregory Domingo said.

He said prices of liquid milk will increase probably in the next two weeks or next month.

The price of condensed and evaporated milk will increase by 5 to 10 percent, Domingo said.

Domingo said that the looming price increase might be triggered by the gasoline price hike, which jacked up transportation cost of milk products.

But he said that oil prices are expected to drop once the winter season in the United States and Europe ends.

“So hopefully bumaba na ang presyo,” he said.

Domingo added that he was not aware of any other products set to increase prices anytime soon.

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