However, the reduction in prices is only for one-litre packs
Following the hike, the double toned milk will be the cheapest among Nandini variants, priced at Rs 44 per 1050 ml.
Milk procurement prices have corrected on the back of a good flush season
Prices have been hiked in major variants in Ahmedabad and Saurashtra-Kutch markets with effect from April 1, said the company
"There's a lag of 4-5 months between feed cost inflation and milk inflation," said the president citing the reason behind the price increase.
This is the fourth round of hike in milk prices this year by Mother Dairy, one of the leading milk suppliers in Delhi-NCR.
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Amul, which comes under Gujarat Cooperative Milk Marketing Federation, marketer of milk and milk products has hiked the prices due to an increase in the overall cost of operation and production of milk.
The cooperative has hiked prices by 8 per cent in the last two years, including the Rs 2 hike in milk prices per litre last month, RS Sodhi said.
Farmers, led by Lok Sabha MP from Kolhapur Raju Shetti, are protesting against the drop in milk prices and reduction in procurement by milk cooperatives
Prabhat Dairy, Joint Managing Director, Vivek Nirmal, attributed the price rise to a 15-20 percent increase in milk procurement prices in the recent past. He, however, was hopeful of some relaxation in milk prices at the end of the summer season.
Kwality is working towards shifting focus from institutional to consumer business, says President and Head of Transformation Nawal Sharma in an interview to CNBC-TV18.
The decline of milk prices this year has been a welcome development for consumers pressured by USD 4 a gallon gas, but could be a bad sign for the economy.
Rating agency CRISIL believes that milk prices will continue to rise over the medium term on sustained demand-supply mismatch and increasing input costs.