NEW DELHI: The Gujarat Cooperative Milk Marketing Federation (GCMMF), which sells milk and milk products under the brand name 'Amul' increased the prices of full cream milk and buffalo milk by Rs 2 per litre across all the states except Gujarat, said officials on Saturday. The Managing Director of GCMMF RS Sodhi informed about the new rate card.
With the hike, the price of full cream milk has increased from Rs 61 per litre to Rs 63 per litre. Earlier in August, the renowned milk brand cited a rise in input costs and increased the prices of milk by Rs 2 per litre on August 16.
The increase of Rs 2 per litre, Amul had said in the statement, translates into a 4 per cent increase in maximum retail price (MRP) which was lower than average food inflation. "This price hike is being done due to an increase in the overall cost of operation and production of milk. The cattle feeding cost alone has increased to approximately 20 per cent compared to last year. Considering the rise in input costs, our member unions have also increased farmers' prices in the range of 8-9 per cent over the previous year," the statement had added.
However, high inflation had been a challenge for India. For the record, India's retail inflation remained above the Reserve Bank of India's mandated range of 2-6 per cent for the third straight quarter. Data released on Wednesday showed retail inflation rose to 7.41 per cent in September from 7 per cent in the previous month.
Popular milk brands Amul and Mother Dairy had both last hiked milk prices by Rs 2 per litre in August to compensate for the increase in procurement costs. Before this, prices were increased in March.