Due to a sharp decline in demand and a significant increase in supply, SMP[skimmed milk powder] producers including GCMMF have reduced product prices by six-seven per cent in the current season, reports Business Standard.
The Gujarat cooperative, has revised its product prices by up to Rs 10 per kg, SMP revised prices currently hovering around Rs 220 per kg.
“We have cut maximum retail price (MRP) of skimmed milk powder by six-seven per cent across all varieties recently because of weak demand from consumers. SMP prices are likely to remain subdued in coming months due to the commencement of new milk supply season,” said R S Sodhi, managing director, GCMMF.