Federation Chairman P T Gopala Kurup said the increase in price would result in milk producers getting an additional Rs 2.40 per litre.
He said domestic procurement of milk which was about 6.73 lakh litres per day in 2010 has increased to around 10.26 lakh litres at present, a record in the history of Milma.
Kerala expected to achieve self sufficiency in milk production in another two years if the farmers are given good price for the milk produced, he said.
Kurup said sales of MILMA had gone up from approximately 11.28 lakh litres per day in July 2013 to 12.31 lakh litres in July 2014.
The sales turnover of Milma in 2013-14 fiscal was Rs 2,183 crore, of which amount 80 per cent was given to farmers in villages as price of milk collected from them.