Milk prices in India could soon hit an all-time high, forcing the world’s biggest producer to step up imports to boost supplies and ease the cost of living pressures, according to a report by Reuters.
Lumpy skin disease in cows and pandemic-induced storage of market-ready breeding stock are major reasons for the price hike, the report added.
Milk prices have already jumped more than 15% to 56 rupees ($0.68) a litre over the past year – the fastest rise in a decade – making it difficult for the government to bring retail inflation below the central bank’s target.
(Reuters)