Jakarta, CNBC Indonesia - The world's milk "paradise", India, is now having a headache. Because the price of milk in that country is about to "explode". "In the past 15 months there has been a tremendous increase in milk and dairy products," said former managing director of India's number one dairy company, Gujarat Cooperative Milk Marketing Foundation, RS Sodhi, quoted by CNBC International, Wednesday (25/6/2023). "Around 14 to 15%," he said. The price spike occurred due to higher feed costs. India's National Dairy Development Council said animal feed - consisting of corn, wheat, rice and oats - was expensive due to the Russian incursion into Ukraine, which disrupted supply chains. Matthew Biggin, commodity analyst at research unit BMI Fitch Solutions, also alluded to rising transport, storage and energy prices. The increase in demand for products such as ice cream as the country enters summer and religious holidays also increases the demand for dairy-based sweets.
Original content
Jakarta, CNBC Indonesia - The world's milk "paradise", India, is now having a headache. Because the price of milk in that country is about to "explode". "In the last 15 months there has been a tremendous increase in milk and dairy products," said former managing director of India's number one dairy company, Gujarat Cooperative Milk Marketing Foundation, RS Sodhi, quoted by CNBC International, Wednesday (25/6/2023). "Around 14 to 15%," he said. The price spike occurred due to higher feed costs. India's National Dairy Development Council said animal feed - consisting of corn, wheat, rice and oats - was expensive due to the Russian incursion into Ukraine, which disrupted supply chains. Matthew Biggin, commodity analyst at research unit BMI Fitch Solutions, also alluded to rising transportation, storage and energy prices. The increase in demand for products-such as ice cream as the country enters summer and then religious holidays also increases the demand for dairy-based sweets. ...
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