Government may reduce gst in ghee and butter to 5%
The government may propose reducing goods and services tax (GST) on ghee and butter to 5% from the current 12%, according to government documents reviewed by Mint. The plan comes as retail milk prices have risen by 10.1% in a year and 21.9% over the past three years due to higher feed and fodder costs…
Milk inflation still more than double the headline rate
Despite some moderation, retail inflation in milk is still more than double the headline inflation rate. Almost all the milk products are seeing very high inflation with ghee leading the pack. Though industry insiders say that prices have started coming down and will soften further, they are still anxious about the impact of a late…
Government wants you to ditch oil for ghee
The Union Government is looking to promote use of ghee as a cooking medium, to replace the use of palm oil and other edible oils, and the reason is not just health. Government sources have told CNBC TV18 that use of more ghee as a cooking medium will not just save foreign exchange by saving on edible…
Do away with different rate of GST on SMP, ghee: Chandramogan
R.G. Chandramogan, Chairman, Hatsun Agro Products, has urged the government to do way with the practice of charging different rates of GST on milk fats and skimmed milk powder (SMP), both of which are milk products. Milk is separated into two parts – SMP (skimmed milk powder) and milk fat. While milk fat is taxed…
Amul to hike its ghee price by Rs 30 per kg
At present, a one kilogram pouch of Amul Ghee and Sagar Ghee in Ahmedabad is selling at Rs 530, while private brands such as Gowardhan is selling the same pouch at Rs 699. In a fortnight, a kilogram of Amul Ghee will cost Rs 30 more across India, after the Gujarat Cooperative Milk Marketing Federation (GCMMF) took…
iD Fresh Food expands in dairy with ghee ; eyes Rs 200 crore in 3-4 years
After entering the dairy segment with curd and paneer, iD Fresh Food is strengthening its presence in the category with the introduction of ghee. This year the company raked in Rs 100 crores from its dairy portfolio and with the launch of ghee this month, it expects to take it to more than Rs 200…
Consecutive double-digit revenue growth for dairies this fiscal
Rising procurement prices to curb profitability; credit quality outlook remains ‘Stable’ Revenue of the organised dairy sector in India is set for the second straight fiscal of double-digit growth – at 11-12%, a notch below last fiscal’s 13% growth. This will be driven by healthy demand for value-added products (VAP; 28% of overall sales), even…
Consecutive double-digit revenue growth for dairies this fiscal
Rising procurement prices to curb profitability; credit quality outlook remains ‘Stable’ Revenue of the organised dairy sector in India is set for the second straight fiscal of double-digit growth – at 11-12%, a notch below last fiscal’s 13% growth. This will be driven by healthy demand for value-added products (VAP; 28% of overall sales), even…
Temples in TN to procure ghee and butter from Aavin only for prasadam
The Hindu Religious and Charitable Endowments (HR and CE) department has directed temples under its purview to procure ghee and butter from Aavin to light lamps and make Neivedhyam (offering for the deities) and prasadam. In an order issued to temple joint commissioners and executive officers, Commissioner J. Kumaragurubaran said that this was to ensure quality of food…
Good Export potential for dairy products from India
A latest surge within the prices of dairy merchandise within the worldwide market has brightened export prospects for India particularly for skimmed milk powder (SMP), fats and butter. The prices have surged to a year-high ranges on the Global Dairy Trade (GDT) auctions – primarily pushed by the consumption push put up Covid-19 unlock measures…