Prices of cement, milk powder & chicken to rise as rupee depreciates?

Cement, milk powder and chicken companies have sought permission from the Consumer Affairs Authority (CAA) to increase product prices, sources in the Ministry of Trade say.

These companies have pointed out several reasons for doing so, including rising import costs due to the depreciation of the rupee, rising prices due to shortages in the world market, lower supply levels, higher transport costs, increased container fares and a shortage of ships for transportation.

However, the government is yet to take a decision in this regard, reports say.

As all these products are subject to government price controls, prices cannot be increased without government permission.