Is this what dairy industry was expecting from Budget 2023 ?
Everyone was eagerly waiting for the budget 2023-24 and finally it came. The last budget speech was of 38 pages and had no mention of terms like dairy or animal husbandry. This time our expectations were high as the budget speech was of 58 pages and had the word dairy mentioned 3 times and animal…
National Workshop on Water Management in Dairy Industry
Verghese Kurien Centre of Excellence organized a National Workshop on Water Management in Dairy Industry in IRMA on 28 January 2023. Prof. Umakant Dash, the Director of IRMA gave the welcome speech and felicitated the guests. He appreciated VKCoE’s efforts in organizing the MDPs on ‘Smart Dairy Farming’ and ‘Reducing Carbon footprint in Dairy Plants…
R S Sodhi wants to take up advisory roles in dairy industry
RS Sodhi was heading India’s leading dairy cooperative GCMMF, which markets its products under Amul brand Sales of Gujarat Cooperative Milk Marketing Federation (GCMMF), known for the Amul brand, grew by at least five times during the tenure of R S Sodhi as Managing Director, which ended this week. Sodhi told Moneycontrol that he now wants to…
Cheese sales drive U.S. dairy consumption growth
Total domestic consumption of milk in all products returned to positive annual growth during the third quarter, for the first time since early this year. Strengthened use of all cheese was a key driver of this positive development. Meanwhile, U.S. dairy export volumes backed off a bit during the third quarter from their record pace…
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…
Synthetic milk made without cows? Could radically disrupt the dairy
The global dairy industry is changing. Among the disruptions is competition from food alternatives not produced using animals – including potential challenges posed by synthetic milk. Synthetic milk does not require cows or other animals. It can have the same biochemical make up as animal milk, but is grown using an emerging biotechnology technique know as “precision…
The dairy industry helps farmers by creating employment
Milk is the biggest agricultural commodity in India. It contributes 5% to the national economy and directly employs 80 million dairy farmers. Improvement in economic activity, increase in per capita consumption of milk and milk products, change in dietary preferences, and increasing urbanization in India has led the dairy industry to grow by 9-11% in…
New GST regime on dairy products will hit farmers, entrepreneurs
At a time when cost of dairying is increasing, the Goods and Services Tax (GST) Council decision to impose 5% tax on curd, butter milk, and lassi has come as a dampener for the dairy sector. “Dairy sector is a source of livelihood for people in the lower strata of society. GST on high-demand milk…
Impact on recent increase on GST on dairy industry by 47th GST council
The GST Council at its meeting held on July 1, 2022 have removed the exemptions on GST on repackaged, relabeled and packaged butter milk, curd, lassi and paneer. The decision states that the above products will be charged GST @ 5%. GST Council have also raised the GST on dairy machinery and milking machines from…
Bringing Green Practices To The Dairy Industry In India : Dr K Rathnam
The dairy industry is evolving at a rapid pace these days and India is the world’s greatest milk producer, accounting for 22 percent of worldwide dairy production. It is also the single greatest agricultural product produced in the country, accounting for over 5 percent of the national GDP. With 70 million dairy farmers tied to…