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Nestlé (Malaysia) Berhad plans to adjust the prices of some products in response to rising global cocoa prices.
CEO Juan Alañols said they would try to keep price adjustments to a minimum, with only modest increases for some products. The company is cautious about price increases because they may affect customers’ purchasing power.
Still, there could be price increases in the coming months due to commodity market volatility. The decision follows the launch of Nestlé’s 2024 lifetime salary competition. Cocoa futures prices recently rose nearly 6% to a record high.
According to reports, Milo will raise prices in July, which may result in customers paying more when purchasing.
(Source: freemalaysiatoday Image source: freepik)
