Gujarat Cooperative Milk Marketing Federation (GCMMF), known for its ‘Amul’ brand, announced a Rs. 2 per litre increase in milk prices on Sunday (2 June, 2024). This new rate is now applicable from today (June 3, 2024).
With the price hike, a one-litre pouch of Amul Taaza milk will now cost Rs 56, up from Rs 54. Amul Gold will be priced at Rs 68 per litre, previously Rs 66.
Cow milk will cost Rs 57 per litre, an increase of Rs 1. Additionally, buffalo milk prices have risen by Rs 3 per litre, now costing Rs 73 instead of Rs 70.
Jayen Mehta, MD of GCMMF confirmed that the price of Amul milk pouches will increase by Rs 2 per litre nationwide.
GCMMF said in a statement that, “This price hike is being done due to the increase in overall cost of operation and production of milk. Our member unions have also increased farmer’s [milk procurement] price approximately by 6-8% over the last year.”
Mother Dairy Also Hikes Milk Price
Following Amul, Mother Dairy also declared on Monday that it will raise the price of its liquid milk by Rs 2 per litre nationwide, effective June 3, 2024.
In Delhi-NCR, the new prices for Mother Dairy milk will be Rs 69 per litre for full cream milk, Rs 56 per litre for toned milk, and Rs 50 per litre for double-toned milk.
Also Read: SME IPOs This Week: Check Subscription Date, Price Band, and More
The company explained that the price hike was due to rising production costs over the past year.
Mother Dairy also highlighted that its latest price adjustment was in February 2023. Despite higher milk procurement costs, consumer prices were maintained. However, the unusual heat stress across the country is expected to further affect milk production, rendering price hike unavoidable.
Want to learn the art and science of managing your money? The 1% Club can help. Details here