Nestle Pakistan and Engro Foods have increased the price of packaged milk by Rs5 per litre to Rs90, market sources said on Tuesday.
Fareed Qurashi, general secretary of Karachi Retail Grocers Group, said that food companies had announced the increase in milk price about a week ago, but retailers implemented the increase from Monday and Tuesday.
“Nestle Pakistan has also increased the price of Nesvita by Rs5 per litre package to Rs110,” he said.
He said that the delay in implementing the price-hike at the retail level was due to selling of old milk stocks in the markets. “Retailers are selling at the new price as soon as they are replacing their old stocks with new ones,” he said.
Earlier, both the companies had reduced the price of packaged milk by Rs5 per litre to compete against each other, a source said.
He said that some of the retailers were selling Engro Foods’ Olper at Rs90 per litre as the retail price was not printed on Tetra packs, while Nestle milk was being sold at Rs85 per litre as the price was printed in bold on the package.