Wednesday, June 19, 2024

Mother Dairy hikes milk price by Rs 2 per litre

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Mother Dairy has announced a price increase of Rs 2 per litre for all milk variants, effective from June 3, 2024, across all its operational markets, including Delhi-NCR. This decision has been made to regulate the escalating production costs in the dairy industry that have been on the rise for over a year.

Despite a 4% surge in India’s milk production, amounting to a total of 230.58 million tonnes in 2022-23, the dairy industry has been unable to prevent a price hike. Previously, Amul had raised its milk product prices, and now Mother Dairy, another dairy giant, has followed suit.

In the Delhi-NCR region, the new prices for Mother Dairy’s products are as follows:

  • Full cream milk: Rs 68 per litre
  • Toned milk: Rs 56 per litre
  • Double-toned milk: Rs 50 per litre
  • Buffalo milk: Rs 72 per litre
  • Cow milk: Rs 58 per litre
  • Token milk: Rs 54 per litre

This price hike is intended to strike a balance between the interests of milk producers and consumers, according to the company.

The dairy industry in India reached a size of INR 16,792.1 Billion in 2023, according to IMARC. It is projected to grow to INR 49,953.5 Billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 13% during 2024-2032. The industry is witnessing robust growth, driven by technological innovation, enhanced retail and e-commerce platforms, and improved cold chain infrastructure, which are meeting the rising consumer demand with a diversified and quality-focused product range.

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