CCS’s Findings From the Market Inquiry into the Supply of Formula Milk
The Competition Commission of Singapore (“CCS”) has released its findings from a market inquiry into the supply of Formula Milk in Singapore.
The inquiry examined the Formula Milk industry in Singapore and the nature of competition at each level of the supply chain, in order to understand the reasons for the significant increase in the prices of Formula Milk in Singapore in recent years. According to the Singapore Department of Statistics, the average retail price of formula milk has more than doubled over the past nine years. Based on the findings, CCS also made recommendations to improve competition in the supply of Formula Milk in Singapore.