Several foreign and domestic milk powder producers announced Wednesday they would reduce prices after an anti-monopoly probe by China's top economic planner.

Wyeth Nutrition said in a statement that it found price controlling through its own internal investigation. It is the first company to acknowledge the mistake in public and announce price cuts.

"Wyeth Nutrition decided to implement a price reduction of key products from July 8 through 2014. The average reduction will be 11 percent, with the biggest single product price reduction at 20 percent," the statement said.

Danone's Dumex said in a report that the company is preparing to cut prices, which will be announced later.

Domestic brand Beingmate announced Tuesday its own plan to cut prices on major infant milk formula products, but without confirming the timeline or naming specific products.

Besides the producers announcing price cuts, other companies under investigation, including Guangzhou-based Biostime International Holdings Ltd, Abbott Laboratories, Nestle SA and Mead Johnson Nutrition Co, did not show any signs of announcing price cuts.

However, due to the high rate of gross profits and low cost of the products announced for price cuts, analysts say the anti-monopoly investigation has a limited impact on the profit of milk powder producers.

Dairy industry analyst Song Liang said that from Wyeth's price cutting announcement, other foreign brands may follow suit in an attempt to avoid serious punishment from the National Development and Reform Commission.

Song said the reason behind domestic brand Beingmate's decision to reduce prices, besides building a good enterprise image, is concern about the investigation.

The National Development and Reform Commission said the companies under probe damage the normal order of market competition and seriously harm consumer interests. The companies have been cited, and fines range in the millions yuan to 10 millions yuan.

According to Sina.com, the National Development and Reform Commission gave positive marks to milk powder producers' decision to cut prices, which is likely to ease punishment.