Mumbai-based Prabhat Dairy Ltd. expects the increase in duty benefits for exports of milk and select products to help reduce a supply glut which has kept prices depressed.
"It's a welcome move," Joint Managing Director Vivek Nirmal told BloombergQuint.
The duty benefits for exports of milk and certain milk products were increased to 20 percent from 10 percent under the Merchandise Export from India Scheme, according to a PTI report.
"There is a huge stockpile of milk products over the last two years due to a slowdown in exports. The government's move will help the demand-supply to come back to normal,” he said.
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