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India, the world’s largest producer of milk, confronts a 15% surge in milk rates.

World's largest milk producer India faces 15% hike in milk prices

World’s largest milk producer India faces 15% hike in milk prices

India, the world’s largest milk consumer, is currently facing a surge in milk prices that is not predicted to ease up until November. According to data from the food commodity price database Mintec, milk prices in India rose from 46 rupees to 53 rupees per liter (between $0.55 to $0.64) from November 2021 to the start of May.

The price hike has been attributed to higher feed costs, a rise in demand for ice cream, and the spread of a contagious cattle disease, among other factors. The pandemic has also hit the dairy sector, putting smallholder farms under financial strain and reducing the pace of breeding.

India, the world’s leading producer of milk, accounts for 22% of global milk production, followed by the US, China, Pakistan, and Brazil. Milk is a staple in Indian households, with per capita consumption at around 440 grams per person per day.

FAQs:

What is causing the surge in milk prices in India?

The surge in milk prices is mainly due to higher feed costs, an increase in demand for ice cream, and the spread of a contagious cattle disease, among other factors.

Is the surge in milk prices expected to ease up?

The surge in milk prices is not expected to ease up until November.

Why is milk consumption high in India?

Milk is a staple in Indian households, with per capita consumption at around 440 grams per person per day. Many Indian desserts are also made from milk, and other milk-based staples in Indian diets include paneer, ghee, and yogurt.

What is the Indian sweet Mithai, and why is it significant?

Mithai is an Indian sweet primarily made from milk, flour, ghee, and sugar. It is significant during Diwali, one of the largest religious celebrations in India, celebrated in November by Hindus, Jains, and Sikhs all over the world.

World's largest milk producer India faces 15% hike in milk prices
World’s largest milk producer India faces 15% hike in milk prices

India, the largest milk producer in the world, bracing for a 15% increase in milk prices

India, the world’s largest producer of milk, is experiencing a surge in milk prices that is expected to continue until November. This increase in milk prices is due to higher feed costs, a rise in demand for ice cream, and a contagious cattle disease, among other factors. According to RS Sodhi, former managing director of Gujarat Cooperative Milk Marketing Foundation, India has seen an extraordinary increase of around 14-to-15% in milk and dairy product prices over the past 15 months.

Mintec, a food commodity price database, reported that milk prices in India have gone up from 46 to 53 rupees per liter ($0.55 to $0.64) between November 2021 and the start of May. This is a significant economic squeeze for Indian consumers, who are the world’s largest milk consumers, with per capita consumption at around 440 grams per person per day.

Higher cattle feed prices during peak demand season, which include corn, wheat, rice, and oats, have discouraged farmers from providing their cattle with sufficient feed. Additionally, farmers have also had to deal with higher transport, storage and energy prices. The dairy sector was already impacted by the pandemic, which hit demand and put smallholder farms under financial strain.

Moreover, millions of the country’s dairy herd were plagued by lumpy skin disease, leading to blisters and reduced milk production in cattle stock.

The surge in demand for products like ice cream, as the country enters the summer months and the following religious holidays when milk-based sweets are a staple, combined with limited domestic supply, will continue to keep milk prices high throughout 2023. However, after Diwali, prices are predicted to stabilize, and milk prices could fall by 2 to 3 rupees per liter to around 50 rupees per liter, according to Sodhi.

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