In an interview with CNBC-TV18, RS Sodhi, former MD of Gujarat Cooperative Milk Marketing Federation and currently the President of the Indian Dairy Association said that he does not foresee any reduction in milk prices until Diwali
While cereals inflation of 12 to 13 percent has caught headlines, the second largest factor pushing up food inflation is milk prices. In February Consumer Price Index (CPI) data showed milk prices up by 9.6 percent from year-ago levels; higher than an already elevated 8.8 percent year-on-year rise in January. And while cereal prices will hopefully ease as the rabi harvest comes in; milk prices are seen getting higher. Experts say the rise in milk prices is because fodder prices were very high last winter.
