Monday, September 10, 2007

Milk prices drop Rs 4/litre in 2 months

BL reports:
"Speculation over a possible extension of the ban on skimmed milk powder (SMP) exports beyond this month has led to a crash in milk prices. Private dairies in the North are currently paying Rs 15-15.50 for a litre of buffalo milk containing 6.5 per cent fat and 8.5 per cent solids-not-fat (SNF) delivered at their dock. The same milk was being sourced at Rs 19-20 a litre in July. “We have seen a drop of around Rs 4 a litre in the last two months. Over the last week alone, prices have gone down by roughly Rs 1.50 a litre,” said Mr Kuldeep Saluja, Managing Director of the Delhi-based Sterling Agro Industries Ltd. Product prices fall He attributed the fall to the decline in realisations from products and speculation over the ban on SMP exports continuing beyond September 30."

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