Milk price increase gets nod

Bright Dairy, one of the country's major milk producers, raised the prices of some of its milk products on Friday after getting approval by the National Development and Reform Commission (NDRC).

The Shanghai-based company is China's third largest dairy producer, after Mengniu Dairy and Yili Co.

The company will raise prices of fresh milk and Ultra High Temperature milk by 14 percent in certain regions, it said in an announcement to the Shanghai Stock Exchange on Friday.