Pinoys drink more milk, drive Alaska’s growth in PH
As more and more Filipinos drink milk, Alaska Milk Corp., the country’s largest condensed and evaporated milk producer, is now optimistic about its sales growth for the year.
Alaska Chairman Wilfred Steven Uytengsu Jr. said in a Manila Bulletin report that the company is anticipating a the double-digit growth forecast this year, which will be driven by growing milk consumption.
He said that the improved income in the country has allowed Filipinos to purchase more milk.
“As disposable income rises, food is generally a beneficiary of that growth so we expect to be part of that growth,” he said in the report.
He said, however, that they are now looking at a possible change in their price points as weak peso may have an effect their imports of raw materials.
The company’s supply of skimmed milk powder, which accounts for almost 50 percent of production cost, are all imported from Australia, New Zealand, US and Europe.