ITC to hike milk price in order to pass on procurement cost to consumer

Firm silent on extent of hike, says farmers faced cost push in the past nine months, which in turn led to an increase in procurement prices by Rs 3-4 a litre for the company

Diversified conglomerate, ITC, will be hiking milk prices over the next few days, to pass on increased cost of procurement from farmers, partially.

Sanjay Singal, Chief Operating Officer–Dairy & Beverages, ITC, said that in the past nine months, farmers faced cost push, which in turn led to an increase in procurement prices by Rs 3-4 a litre for the company.

“Hence manufacturers have decided to pass on the price partially,” he said. The last price increase was in June 2021, which again was Rs 2 per litre.

Singal did not specify the extent of the increase that was in the