Tetra Milk Packs and Formula Milk Get a Major Hike Due to High Inflation

Several milk products, including infant formula, have experienced price increases from manufacturers. Effective February 20, 2023, the cost of a one-liter tetra milk box has increased from Rs. 230 to Rs. 250. In October 2022, the price was only Rs. 220.

A Nestle Pakistan Ltd (NPL) official has attributed the price increase to the high inflation environment and the impact of the dwindling currency on all products. The official also cited the rising cost of milk production, feed, gasoline, and packaging materials as contributing factors to the price hike. Retailers and department stores typically sell brand-labeled milk products at somewhat lower prices, depending on sales and stock status.

According to a merchant, the company has raised the prices of Nido 1 Plus 900-gram and 375-gram to Rs. 1,780 and Rs. 770, respectively, from Rs. 1,360 and 640. Nido 3 Plus 800-gram and 375-gram packets are now priced at Rs. 1,610 and Rs. 780 each, down from Rs. 1,490 and 720 before. Lactogen I 200-gram and 400-gram packets are now priced at Rs. 1,450 and Rs. 990, up from Rs. 460 and Rs. 860, respectively.

Lactogen 2 and 3 are now priced at Rs. 500, Rs. 990, and Rs. 1,970 for 200-gram, 400-gram, and 800-gram packets, respectively. The price of Nan 1 Optipro has been increased to Rs. 2,050 for 400 grams and Rs. 4,445 for 900 grams.

Nido School Age 900-gram, 650-gram, and 390-gram packets are now priced at Rs. 1,470, Rs. 1,100, and Rs. 680, respectively, up from Rs. 1,300, Rs. 820, and Rs. 560. The price of the Milo 300-gram pack has increased from Rs. 550 to Rs. 670. Nido 1 and Nido 3 tins (1,800 g) are now priced at Rs. 5,900.

It is important to note that in response to strong demand and new product releases, NPL sales increased 20 percent to Rs. 121 billion between January and September 2022, compared to Rs. 100 billion over the same period the previous year. The after-tax net profit of the business grew by 25 percent to Rs. 11.4 billion from Rs. 9 billion. As a result of sales growth, a favorable product lineup, and tighter control over fixed costs, operating profit increased by 37 percent to Rs. 21.5 billion from Rs. 15.6 billion.

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