ALASKA Milk Corp. (AMC) is giving the public an early “Christmas gift” by announcing on Wednesday that it is not moving its prices up for the remaining months of the year despite rising costs and a depreciating peso.

At the sidelines of the Management Association of the Philippines (MAP)-sponsored International CEO Conference, AMC president and chief executive Wilfred Steven Uytengsu Jr. said the company will keep the prices of its milk products affordable to consumers so as not to dampen the demand.

“We are walking on the tight rope here but we do not see the need of adjusting our prices,” he told reporters. The last time the company hiked its selling prices was in October 2007, where it implemented an almost across-the-board increase of 5 percent.

AMC, makers of Alaska, Carnation, Alpine, Milkmaid and Liberty products, said despite the negative perception on local milk products caused by the lingering melamine scare, it still managed to post modest growth in sales last month.

He remains concern, though, of the prevailing hesitation on the part of the consumers.

“The biggest risk I think is that consumers begin to doubt the integrity of the product. For me, we should try to educate the consumers on the safety of our food supply check,” said Uytengsu.

The company last week assured the public that its products are safe from the toxic melamine substance.

In a statement, it said, “The milk situation in China does not in anyway affect the company. Alaska Milk has never imported from China skimmed milk powder as an ingredient in any of its products.”

AMC emphasized that it locally manufactures and distributes liquid, powdered and ready-to-drink milk products.

“Our skimmed milk powder and UHT products primarily come from New Zealand, Australia and the USA,” it added.

Meanwhile, even if the company is slowing down on expansion and acquisition plans, he said it would emerge a debt-free entity by the end of the year. 

“We would be in a fairly attractive situation as we would pay off our debts using internally-generated cash,” he said. Coupled with that is the expected decline in working capital requirements on the back of falling prices of skimmed milk.

“We expect a better year in 2009,” Uytengsu declared.

Milk importers may get compensation

THE Chinese government has committed to help Philippine companies get some form of compensation from their suppliers in China for losses incurred owing to the melamine contamination of milk products.

Alaska not raising prices this year

ALASKA Milk Corp. (AMC) is giving the public an early “Christmas gift” by announcing on Wednesday that it is not moving its prices up for the remaining months of the year despite rising costs and a depreciating peso.

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