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Milk Price Hike: The rising prices of milk across the country have completely spoiled the budget of the common man’s household. In the last few months, the country’s big dairy companies like Amul, Mother Dairy have increased the prices of milk several times. The continuous increase in the price of milk has also increased the headache of the government. The average retail price of milk has registered an increase of 12 per cent during the last one year and has reached Rs 57.15 per litre. While the inflation figures for March have given relief, milk prices are still skyrocketing.
There has been a decline in the retail inflation rate for the second consecutive month. The retail inflation rate in March 2023 has been 5.66 percent, which was 6.44 percent in February. During this, the inflation rate of food items has also come down. The food inflation in the market came down to 4.79 per cent, which was 5.95 per cent in February. Even though there has been a decrease in the inflation of food items in March, the inflation rate of milk still remains at 9.31 percent.
Why milk prices are increasing
Significantly, milk is the second most used product in food and drink in India. In such a situation, its increasing prices have spoiled the budget of common people’s house. In such a situation, the biggest question is that what is the reason behind the continuous increase in the prices of milk? According to experts, a tremendous increase has been registered in the prices of animal feed in the last few months. Its price has increased from Rs 8 to Rs 20 per kg. In the production of milk, more than 65 percent is spent on fodder. In such a situation, the rising prices of fodder are directly affecting the price of milk.
Government’s increased concern
The rising prices of milk will directly affect the consumption. Due to the increase in the prices of milk and its products, people are reducing its consumption. In such a situation, due to increase in the difference between demand and supply, the dairy company may suffer loss. Along with this, the skyrocketing prices of milk before the elections to be held next month and in the year 2024 can also damage the image of the government. An increase of 12 to 15 percent has been recorded in the prices of milk in the cold season in the country. As summer progresses, milk production decreases and consumption increases. In such a situation, there is little possibility of relief in the prices of milk.
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