Amul to Parag: Dairy firms hike milk prices. Check latest rates
PremiumThe price increase is due to a rise in costs of energy, packaging, logistics and cattle feed that has led to an increase in the overall cost of operation and milk production
Several dairy companies on Tuesday hiked the prices of milk. Amul, the country's oldest dairy firm, increased milk prices by ₹2 per litre with effect from Tuesday due to a rise in input cost. The Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets milk and milk products, increases the price by ₹2 per litre in all Indian markets.
According to the organization, the price increase is due to a rise in costs of energy, packaging, logistics and cattle feed that has led to an increase in the overall cost of operation and milk production.
"Considering the rise in input costs, our member unions have also increased farmers' price in the range of ₹35 to ₹40 per Kg fat which is more than 5% over the previous year," the statement said.
In the Ahmedabad and Saurashtra markets of Gujarat, the price of Amul Gold will be ₹30 per 500 ml, Amul Taaza will be ₹24 per 500 ml, and Amul Shakti will be at ₹27 per 500ml.
GCMMF had last hiked milk prices in July 2021 by ₹2 per litre.
On the other hand, another dairy firm Parag Milk Foods Ltd said it has raised the price of the Gowardhan brand of cow milk by ₹2 per litre with effect from March 1 due to rising input cost.
With the hike in prices, Gowardhan Gold milk will now cost ₹50, up from ₹48 per litre, Parag Milk said in a statement.
Gowardhan Fresh, which is the toned variety, will now cost ₹48, against ₹46 per litre earlier.
However, Mother Dairy has not increased any price. The dairy hiked the prices by ₹2 per litre in July last year.
Last month brokerage ICICI Securities also mentioned in its report about the rising milk procurement prices by private dairy companies, as well as, co-operatives.
"Milk procurement prices have started inching upwards on the back of culmination of the flush season and a steady increase in animal feed prices," the report mentioned.
Global skimmed milk powder prices increased 34% year-on-year and 8% month-on-month in February.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!