Dairy industry in India may hike milk prices again
Dairy
India
Published Jun 12, 2022
Tridge summary
The cost of food, particularly essentials, has risen across the board. This year, benchmark wheat futures have increased by almost 50%, palm oil has increased by over 40%, and a UN dairy price index has increased by 14%.
Original content
Commodities for which the ordinary Indian consumer is now paying a higher price are on the rise, including milk, which is a staple in most Indian families. In India, wholesale milk prices have risen 5.8% year over year, and analysts anticipate that as demand grows, customers may have to pay more in the coming months. The demand for milk in India increased as a result of an intense heat wave that hit numerous sections of the nation. On an annual basis, milk prices in south India increased by 3.4 %. The rise in wholesale costs, according to analysts at ICICI Securities NSE -0.73 %, is due to the conclusion of the flush season, increased consumption, and hot summer. Due to a rise in cattle feed prices, milk procurement prices have been pushed upward. In the last five months, dairy companies in India have increased milk selling prices by 5-8%. In a report issued on Friday, the trading company stated, "We expect the dairy industry will need to raise prices again in the coming quarters ...
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