British demands on duty concessions on dairy out of India-UK FTA
India-UK FTA: New Delhi has kept British demands on data-related issues and duty concessions on the dairy sector out of the ambit of the proposed free trade agreement. The negotiation for the agreement between the two countries is expected to be concluded by October end or November. Protecting the interest of domestic players, India has…
Parag Milk bets big on sports nutrition, to expand pride of cows
One the leading private dairy companies Parag Milk Foods plans to focus more on the sports nutrition segment and health besides expanding the reach of its “Pride of Cows” single source liquid milk. Akshali Shah, Executive Director, Parag Milk Foods, said, “There is a huge gap in meeting the demand for whey protein and we…
Food industry impacted by high commodity prices : Britannia Ind
FMCG major Britannia Industries Limited said that the food sector in which it operates has been significantly impacted by high commodity prices, rising interest rates and due to the fall out of the Russia-Ukraine conflict. The long term effects of these factors continue to be felt extensively, the company said in its annual report for…
Milma’s TRCMPU to Give Incentive of Rs 2.50 Per Litre on Milk
Trivandrum Regional Co-operative Milk Producers Union (TRCMPU) of Milma has announced an incentive of Rs 2.50 on each litre of milk procured from dairy farmers in four southern districts during Onam. TRCMPU Administrative Committee Convener N Bhasurangan said the incentive, which will be shared between dairy farmers (Rs 2) and the respective cooperative societies (50…
Heritage Foods: Margin trajectory likely to improve
The Q1FY24 results of Heritage Foods were in line with expectations. Highlights: Growth in value-added products Raw material prices have softened Higher advertisement spends Investors with higher risk appetite can accumulate stock on declines The Q1FY24 results of Heritage Foods (HFL; CMP: Rs 247; Market capitalisation: Rs 2,293crore) were in line with expectations. Milk procurement…
The curious case of lactose intolerance
Having to rush to the toilet in the middle of a movie, with a tummy that is producing audible, rumbling sounds can be an embarrassing experience. “Not to mention the endless ribbing from friends that you have to put up with,” says Pramod, a marketing executive. “A group of us friends had met up for dinner…
No plans to eliminate milk and milk products from GST net
There is no proposal to eliminate the Goods and Services Tax (GST) on milk products as the rates are based on the recommendation of the GST Council, Union Minister of State for Finance, Pankaj Chaudhary, said on Tuesday, August 1, 2023. Mr. Chaudhary said fresh milk and pasteurised milk are exempt from GST. The rates…
Delicious feud Punjab milk brand may vie for space in delhi Parks
More milk from Punjab is set to flow into the city. With Delhi Municipal Corporation giving the go-ahead to Punjab Milkfed to sell its Verka brand in Delhi, the milk producers’ cooperative plans to begin with 100 booths in the capital. Till now, only Amul was permitted to set up booths at designated spots across…
Nestle aims at expansion of out-of-home consumption
Nestle reported ITS Q2results for 2023, which were in line with expectations. The company achieved double-digit growth across all its products, primarily driven by a favourable product mix, increased volume, and improved pricing. Additionally, during the quarter, the out-of-home (OOH) business experienced rapid acceleration. The gross profit margin (GP margin) expanded by 90 bps (0.9%)…
Steps being taken to increase milk production Mano Thangaraj
Minister for Milk and Dairy Development T. Mano Thangaraj on Saturday said various steps are being taken to increase the number of livestock of farmers and provide them with a balanced income. During the inauguration of milk cooling units in Karur, Mr. Thangaraj said to increase procurement, targets for each district were being given to…