India: Milk prices soar by 15%

Published 2023년 6월 5일

Tridge summary

India is experiencing a significant increase in milk prices, with costs rising by approximately 14-15% over the past 15 months, reaching around 53 rupees per liter (about US$0.64). This surge in prices is attributed to various factors, including higher feed costs, increased demand for ice cream, and a contagious cattle disease, all contributing to production challenges. As the world's leading milk producer, India's milk price hike has implications for its large consumer base and the global dairy market. The high milk prices are expected to persist until November 2023, potentially leading to consumers reducing their consumption or seeking alternative products to mitigate the impact. However, former MD of Amul, RS Sodhi, predicts a slight decrease in prices after the Diwali festival in November.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

India is facing an increase in milk prices and it is not expected to decrease until November. “In the last 15 months, there has been an extraordinary increase in the price of milk and dairy products, by around 14-15%,” said RS Sodhi, former managing director of India's number one dairy company, Gujarat Cooperative Milk Marketing Foundation. The price increase is due to higher feed costs, increased demand for ice cream and a contagious cattle disease, among other factors. India, the world's leading milk producer, accounts for 22% of global milk production, followed by the US, China, Pakistan and Brazil. According to data provided by the Mintec food commodity price database, milk prices in India rose from 46 rupees to 53 rupees per liter (between US$0.55 and US$0.64) from November 2021 to the beginning of May. Milk prices in India since May 2021 Milk prices in India (rupee per litre) Source: Mintec Get the data Created with Datawrapper This puts economic pressure on Indians, who are ...

Source: Milkpoint