July 26, 2011
Indian milk prices increase amid increasing fuel cost
Rising fuel cost has caused milk prices to increase over short spans.
According to Gujarat Co-operative Milk Marketing Federation (GCMMF) which markets Amul brand of dairy products, it will increase the milk prices by INR1-2 (US$0.023-0.045) per litre from Monday (Jul 25) while the more well-liked brands like Amul Shakti and Amul Gold, will experience a hike of INR2/litre (US$0.045).
In the past one year, milk prices have risen by 20% and doubled since five years ago. Last July, Amul Gold was sold at INR30/litre (US$0.68) but it is sold at INR36/litre (US$0.81) currently. Half a decade ago, the brand was sold at INR18/litre (US$0.41) but the price has jumped by 100% to INR36 (US$0.81) presently.