On August 1, Dongwon F&B, the company selling milk brands such as Cow & Milk and Denmark Milk, said it would postpone a plan to raise milk prices by 7.5 percent. Other milk producers including Seoul Milk and Namyang Dairy haven't been able to announce their plan to raise prices. Only Maeil Milk has announced earlier that it would increase its milk prices by 10.6 percent from the 8th.
Consumer price policy makers at the Ministry of Strategy and Finance convened on July 30 representatives of large retail stores such as E-Mart, Lotte Mart, and Home Plus and asked to minimize the milk price rise level. Although the government officials said the meeting was simply for "market coordination" purposes, the representatives said it was a clear case of the government pressuring private-sector operators in their pricing decisions. The main reason for milk producers to raise their prices was the per-liter raw milk price was raised 12.7 percent to 940 won from 834 won.
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