GST rate cut impact: Amul lowers prices of range of items; ghee cheaper by Rs 40 - check list

Amul’s parent company, Gujarat Cooperative Milk Marketing Federation (GCMMF), on Saturday announced reducing the retail prices of more than 700 product packs, passing the benefits of recent GST reforms to consumers.

The price reduction covers a wide range of products, including ghee, butter, ice cream, bakery items, and frozen snacks, with the new prices taking effect from September 22.In a statement, GCMMF said the price revision covers a wide range of items, allowing customers to enjoy the full benefit of the GST reduction."This revision is across the range of product categories like butter, ghee, UHT milk, ice cream, cheese, paneer, chocolates, bakery range, frozen dairy and potato snacks, condensed milk, peanut spread, malt-based drink, etc," the company said in a statement cited by PTI.Here are some of the items that will get cheaper:

"Amul believes the reduction in prices will spur consumption of a wide range of dairy products particularly ice cream, cheese and butter as the per capita consumption remains very low in India, creating a large growth opportunity," the statement added.Owned by 36 lakh farmers, GCMMF said the price cuts are expected to drive higher demand for its products and boost overall turnover.Earlier, Mother Dairy had also announced reductions in its product prices, effective from 22 September.