The Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM) has confirmed that Nestlé Malaysia will be raising the prices for 22 of its products come 1 July 2024. These include products such as Milo, Nescafe, and Maggi Tomato Ketchup.

“We have received official notification from Nestlé regarding the impending price adjustments,” said the president of FSGMAM Hong Chee Meng, who added that the price increase will vary for each product. While he did not share the full list of products that will be impacted or the exact increase that will be implemented, he noted that the customers can expect to see a hike of approximately 5% to 6%.

Hong also said that FSGMAM has circulated this latest information among its members nationwide so that they can make the necessary adjustments for a smoother transition.

Early last week, the chief executive officer of Nestlé, Juan Aranols had already shared that the company is looking to update and adjust the prices of selected products that it offers. This is due chiefly to the recent surge in global cocoa prices.

Aranols had also said then that Nestlé will strive to keep the hikes minimal as it is aware that this move will affect customers’ purchasing power. He stressed as well that the company will do its best to look at other possible measures to limit the price adjustment.

(Source: The Edge Malaysia)

• TAGS:
• Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM)
• Hong Chee Meng
• Juan Aranols
• Maggi
• Milo
• Nestlé Malaysia
• Nestle