Buying milk is getting expensive in India and the price could soon hit an all-time high, forcing the world's biggest producer to step up imports to boost supplies and ease cost of living pressures
Farmers are wrestling with a rare double whammy: a lethal condition called lumpy skin disease in their cows and a drawdown in market-ready cattle stock after the coronavirus pandemic slowed breeding.
The soaring prices of milk and other basic goods is expected to become a political issue heading into state elections later this year. "Since milk has a weightage of 6.6% in the consumer price index, any spike could have a reasonable implication on headline inflation," she said.A 39% jump in exports of dairy products in 2022, followed by lower milk supplies, has already cut inventories of butter and skimmed milk powder in India, even as rising incomes lift demand for protein-rich dairy products, a key source of calcium, vitamins and protein for a large vegetarian population.
That contrasts with recent years when prices dived in the wake of the coronavirus pandemic. While cows were cheaper, coronavirus lockdowns weighed on milk consumption.
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