Inflation eats into India's rural demand while green shoots become visible

After a pandemic slump, consumer goods makers are banking on a good monsoon but erratic rain patterns make a sustained recovery open to question

In May, Satpal Singh, who runs a dairy business with three buffaloes in Jewar, near Noida, was worried about the steep spike in input costs.

Singh said dry fodder rates, which cost Rs 1,500-2000 per tractor trolley last year, were quoting at Rs 4,500-5,000. The price of other cattle feed ingredients (that include mustard meal and similar mixes) had also gone up from Rs 2,000 per quintal to Rs 3,100-3,200 per quintal.

The average feed cost per animal rose to Rs 125-150 per day in May and June; till a few months ago, it was less than Rs 100. The