Thursday, 26 April 2012

Nestle to maintain prices for key products over next few months, says MD

KUALA LUMPUR (April 26): NESTLE (M) BHD [] will not increase prices for its key products, Milo and Maggi, in the next few months, said its managing director Peter R. Vogt.

Close to the second half of last year, the company increased the price of its Milo products by about 4%-6%.

Speaking after the company's AGM on Thursday, Vogt said that raw material prices such as cocoa beans and cocoa powder are relatively high at the moment and will probably stay high.

He said Nestle is taking cost control measures to offset the impact from the high commodity prices

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