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CP Meiji wants to up retail price to offset cost

Rising cost of imported powder milk and domestic raw milk has prompted CP Meiji Co Ltd to ask for permission from the Commerce Ministry on Tuesday to increase retail prices of its dairy products by 68 per cent. Paisal Chongbanyatcharoen, president of the company, said that imported powder milk price is forecast to increase by more than 100 per cent to US$5,400 per ton this year-end, up from current price of US$2,200. -The Nation

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