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HANOI, Aug. 3 (Xinhua) -- Milk traders in Vietnam will be allowed to self-determine retail prices of products from Aug. 10, the Vietnamese Ministry of Industry and Trade announced Thursday.
The policy move means the removal of the earlier-imposed cap on retail prices of dairy products for children under 6 years old, which was said by the ministry to protect local customers from price hikes but strongly opposed by foreign firms.
In 2016, Vietnam spent some 867 million U.S. dollars importing dairy products, according to the ministry.
