Amul hikes milk prices by Rs 2 per liter

PTI, Jun 3, 2024, 8:19 AM IST

Representative image (Credit: Pexels)

New Delhi: The Gujarat Cooperative Milk Marketing Federation (GCMMF), which operates under the ‘Amul’ brand, has announced a nationwide increase in milk prices by Rs 2 per litre from Monday.

This translates to a 3-4% hike in the maximum retail price, significantly lower than the prevailing average food inflation rates, according to a late-night statement from GCMMF.

The price adjustment follows the recent conclusion of the Lok Sabha elections’ voting process. Notably, GCMMF has not raised the prices of fresh pouch milk in major markets since February 2023.

The hike is attributed to rising operational and production costs. Additionally, member unions have increased farmers’ compensation by approximately 6-8% over the past year.

“As a policy, Amul passes on nearly 80 paise of every rupee paid by consumers for milk and milk products to the milk producers,” the statement elaborated.

The price revision is expected to sustain remunerative prices for milk producers and encourage higher milk production, GCMMF added. Amul remains a leading milk supplier in the country.