DAIRY NEWS Budget 2023 to give impetus to dairy processing, says ICRA
The incentives announced in the Union budget 2023-24 for the cooperative sector are expected to boost dairy processing industry in the country, said ratings agency ICRA. Finance Minister Nirmala Sitharaman in her budget speech said: “Co-operatives that commence manufacturing activities till March 31, 2024 shall get the benefit of a lower tax rate of 15 […]
Rating agency ICRA says dairy industry reeling under high input cost
Rising price of milk procurement and higher operating costs keep dairy industry under pressure even as companies attempt to hike retail prices to combat margin pressures. While the revenue of the top six diary companies is expected to grow 12-14 per cent this fiscal, backed by strong demand revival and increase in retail prices, operating […]
Indian dairy industry to grow by 9-11 per cent in FY22: ICRA Report
The dairy industry is expected to grow by 9-11 per cent in 2021-22, driven by a revival in economic activities, increasing per capita consumption of milk and milk products, changing dietary preferences due to rising urbanisation, according to a report. The industry-wide demand to grow by 9-11 per cent in the financial year 2021-22, Icra […]
Sales of liquid milk to grow 4-5 pc in FY21
Even as institutional sales for dairy products have been impacted due to COVID-19 related disruptions, liquid milk sales are expected to grow by 4-5 per cent in 2020-21, while those of value added dairy products (VADP) will remain flat, according to a report. The COVID-19 pandemic and the lockdowns globally impacted the dairy supply chain, […]
