KSA gives baby milk firms ultimatum to lower prices

June 1, 2014 12:11 am

The Saudi commerce and industry minister, Tawfiq Al-Rabiah has given baby milk manufacturing and importing companies a grace period of two weeks to re-adjust their prices and has included baby milk products in the list of foods subject to regulations following unreasonable price hikes and attempts to create artificial scarcity, Arab News has reported. A 400-gram pack of baby milk must not cost more than SR29 or SR70 per kilo, said the ministry.