The official price of milk fixed by the government is Rs 94 per litre and the retail price set by shopkeepers is Rs 110 per litre, but the shopkeepers sold it at Rs 140 per litre.
Milk prices in Pakistan recently shot through the roof. At a whopping Rs 140 per litre, milk was costlier than petrol in Pakistan on the occasion of Muharram. The official price of milk fixed by the government is Rs 94 per litre and the retail price set by shopkeepers is Rs 110 per litre, but the shopkeepers sold it at Rs 140 per litre, going by an IANS report. This was even higher than the price of petrol, which was sold at Rs 113 per litre, and diesel, which was sold at Rs 91 per litre. A sudden spike in demand shot up milk prices, mostly in Karachi and Sindh.
Generally, there are stalls set up during Muharram, which are aimed to offer milk, juices and water to people. This raises the demand for milk, skyrocketing its prices. Reports also suggest that the artificial shortage was created, restricting the availability of milk. Milk is an essential product and such a hike in prices may unstablise the budget of many families, especially those with low earnings.
Rising fodder prices and the hike in milk procurement prices are likely to raise milk prices in India too. Stating the interests of the dairy farmers, some of the major dairy players such as Amul and Mother Dairy have recently increased the milk prices and the possibility of another hike is also present.
Raw milk prices in India was unchanged for the last two years. Amul held the rising costs to feed the cattle and labour responsible for the hike in milk prices by Rs 2 per litre. Mother Dairy appeared to follow the same path stating that the fodder costs have jumped 15-20 per cent. The surge in the price of milk affect almost all the households as the consumption is across all the segments. Meanwhile, India’s milk output has more than doubled from 79.66 mt in 2000 to 176.27 mt in 2017.