Milma has withdrawn the hike announced for its 'Rich Milk' within a day.

The Kerala Co-operative Milk Marketing Federation known by its sobriquet Milma had on Tuesday announced a Rs 2 hike on the high-fat (4.5%) milk that is brought out in green packets.

However, Rs 1 hike announced for 'Smart Milk' has not been withdrawn. Smart Milk which comes in green packets has a fat content of 1.5%.

The prices of the homogenized toned milk that comes in two different blue-coloured packets have not been increased.

On Monday, responding to media persons' query about a potential hike in milk prices, Milma Chairman KS Mani said: Not at all.

Mani had hosted a press conference to announce 'Repositioning Milma 2023', a brand revamp exercise. With the revamp, Milma aims to compete with other dairy majors and global brands, Mani said in the press conference.

However, within a day, the hikes were announced to the surprise of many. Even Kerala's Minister for Milk Cooperatives, Animal Husbandry and Dairy Development, J Chinchurani said she was unaware of the development.

"Milma functions under the government. When a price hike is planned the government must be informed, and in this regard, they made a mistake," said Minister Chinchurani.

Milma had claimed the hike was announced to offset heavy losses. It said 83% of the hike will go to the dairy farmers.

The price of Milma milk, except for the Rich and Smart categories, had been hiked by Rs 6 per litre last December.