Milk Price Hike: Milk is used daily in all households. From feeding children to tea for old people… we use milk. Have you ever wondered why the prices of milk are increasing so much? Let us tell you what are the reasons behind this and how many times the prices have increased in the year 2022.
According to a BBC report, the companies have attributed the increased cost behind the increase in the price of milk. In November 2022, the wholesale inflation rate of milk had gone up to 6.03 percent. This is the second time after June when the wholesale inflation reached 6 percent. In the rest of the months, this rate remained up to 5.4 percent. Even after this increase in milk prices has been observed.
An average Indian in India spends about 20 percent of the total expenditure on food in a month on milk. This cost is more in cities. At the same time, according to the National Sample Survey (NSS), people in rural areas spend Rs 116 a month on milk and milk products. According to research, the demand for milk has also increased more than before in the past months.
Why the price hike?
Increasing Demand– 23 percent of the global milk production is produced in India. Compared to last year, this year milk procurement rate has increased by 15 to 25 percent.
The price of fodder– After June 2013, the highest increase in the price of fodder has been seen. The wholesale inflation in fodder was 8.85 per cent in October last year. Whereas, the wholesale inflation was 25.54 percent in August and 25.23 percent in September.
When did the price of milk increase?
Mother Dairy had increased the price of milk by two rupees per liter in December. This was the fifth increase in milk prices in the year 2022. At the same time, Amul has again increased the prices of milk. This time the price of half a liter of milk has been increased by Re 1 and the price of one liter of milk has been increased by Rs 3. Earlier the prices were increased in 2022 October, August and March.
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