India's leading milk suppliers Amul and Mother Dairy have increased pouch milk prices by about Rs 2 per litre with effect from Monday, June 3, across the country.
Amul, which is marketed by the Gujarat Cooperative Milk Marketing Federation (GCMMF), announced the price hike on Sunday, while Mother Dairy made the announcement on Monday.
The announcement of price hike came after the completion of voting process of the Lok Sabha elections 2024.
The GCMMF said that since February 2023, it has not made any increase in prices of fresh pouch milk in major markets.
The increase of Rs 2 per litre translates to range of 3-4 per cent hike in MRP which is much lower than average food inflation, the GCMMF said in a late-night statement.
"This price hike is being done due to increase in overall cost of operation and production of milk. Our member unions have also increased farmers' compensation by approximately 6-8 per cent over the last one year," news agency PTI cited the GCMMF statement.
Under Amul's policy, almost 80 paise of every rupee paid by consumers for its milk and milk products is passed on to the milk producers.
"The price revision shall help in sustaining remunerative milk prices to our milk producers and to encourage them for higher milk production," the statement said.
