May 30, 2023: India is facing an increase in milk prices, and it’s expected to ease up in November.
“In the previous 15 months, there has been an extraordinary increase in milk and dairy products, around 14-to-15%,” said RS Sodhi, former managing director of India’s number one dairy company, Gujarat Cooperative Milk Marketing Foundation.
The price spike comes from higher feed costs, increased demand for ice cream, and a contagious cattle disease, amongst other factors.
India, the world’s leading milk producer, accounts for 22% of global milk production and is followed by the U.S., China, Pakistan, and Brazil.
According to data provided by the food commodity price database Mintec, milk prices in India rose from 46 rupees to 53 rupees per liter (between $0.55 to $0.64) from November 2021 to the start of May.
This is an economic squeeze on Indians, who are the world’s largest milk consumers.
“In India, every household buys milk every day. Per capita consumption is around 440 grams per person per day. Every Indian start [the day] with milk,” said Sodhi.
“In the morning, people drink milk from the bottle, or in tea and coffee, a lot of Indian desserts are mostly made out of milk only,” he added. Other milk-based local favorites include paneer, ghee, and yogurt, staples in Indians’ regular diets.
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