Milkfed Punjab hikes milk procurement price for farmers by Rs20/kg fat
The decision is aimed at providing better income to dairy farmers, boosting the rural economy, and strengthening the cooperative dairy system in the state.
PTC News Desk: The Punjab government has raised the milk procurement price by Rs 20 per kg of fat for farmers associated with Milkfed (Verka), with the new rates coming into effect from May 1.
According to an official spokesperson, the decision is aimed at providing better income to dairy farmers, boosting the rural economy, and strengthening the cooperative dairy system in the state.
Around 2.5 lakh farmers linked to Milkfed are expected to benefit immediately. The spokesperson added that the increase will make dairy farming more sustainable and could also prompt other milk buyers to raise their procurement prices.
The move is likely to benefit nearly 30 lakh milk producers across Punjab and is expected to inject about Rs 100 crore into the rural economy every month.
Milkfed Punjab, one of the leading dairy cooperatives in north India, holds a significant share in the packaged milk and dairy products market.