The specific epithet indigo is derived from the Latin word meaning 'indigo blue'. hemicyaneus may be considered as mileposts along the road to L. indigo. L. chelidonium and its variety chelidonioides, L. paradoxus, and L. The climax is reached in L. indigo which is blue throughout.

The gradual development of blue to violet pigmentation as one progresses from species to species is an interesting phenomenon deserving further study. In 1979, they revised their opinions on the organization of subdivisions in the genus Lactarius, and instead placed L. indigo in subgenus Lactarius based on the color of latex and the subsequent color changes observed after exposure to air. Hesler and Smith, in their 1960 study of North American species of Lactarius, defined L. indigo as the type species of subsection Caerulei, a group characterized by blue latex and a sticky, blue cap. German botanist Otto Kuntze called it Lactifluus indigo in his 1891 treatise Revisio Generum Plantarum, but the suggested name change was not adopted by others. Originally described in 1822 as Agaricus indigo by American mycologist Lewis David de Schweinitz, the species was later transferred to the genus Lactarius in 1838 by the Swede Elias Magnus Fries. In Honduras, the mushroom is called a chora, and is generally eaten with egg generally as a side dish for a bigger meal. It is an edible mushroom, and is sold in rural markets in China, Guatemala, and Mexico. The milk, or latex, that oozes when the mushroom tissue is cut or broken - a feature common to all members of the genus Lactarius - is also indigo blue, but slowly turns green upon exposure to air. The fruit body color ranges from dark blue in fresh specimens to pale blue-gray in older ones. L. indigo grows on the ground in both deciduous and coniferous forests, where it forms mycorrhizal associations with a broad range of trees. It is a widely distributed species, growing naturally in eastern North America, East Asia, and Central America it has also been reported in southern France. The largest player, Gujarat Cooperative Milk Marketing Federation, which sells under the Amul brand, has a less than 7% market share.Lactarius indigo, commonly known as the indigo milk cap, indigo milky, the indigo (or blue) lactarius, or the blue milk mushroom, is a species of agaric fungus in the family Russulaceae. While India is both the largest producer and consumer of milk globally, the industry is highly fragmented with only a 15% market share coming to organised players, which are mainly co-operatives. The size of the country’s dairy sector is estimated at Rs 10 lakh crore, growing at nearly 10-12% annually. “The debt is not very high given we have a strong bottom line with profit at over 15% of our sales,” Rathnam told ET. According to the report, the company currently has a bank loan facility of Rs 1,092 crore. “Further, it is expected to generate healthy cash accruals of more than Rs 120 crore per annum over the medium term as against Rs 67 crore and Rs 85 crore repayment obligation in fiscal 20, respectively,' said a recent report by ratings firm Crisil. Industry experts said Milky Mist has been reporting an operating profitability of about 15% over the last three financial years, which is why its debt protection risk profile is expected to remain comfortable over the medium term. The company is in the process of undertaking a capital expenditure of Rs 634 crore for ultra-heat treatment needed to produce chocolates and ice cream. It has yet to file FY23 results with the RoC. In FY22, the company reported sales of Rs 1,012 crore with a net profit of Rs 32 crore, according to its filings with the Registrar of Companies (RoC).

Milky Mist posted sales of around Rs 1,450 crore for the year ending March 31, 2023, a rise of over 42% over the previous year, the company said. This has come amid rising labour and packaging costs, which have further dented the cost structures of players, making it an industry-wide concern. Over the past two years, rising cattle feed prices and transportation costs have forced dairy companies to increase milk procurement prices to support farmers. The company sells cottage cheese, yogurt, butter and cheese among other products, and procures about 600,000 litres of milk daily from 60,000 dairy farmers. Based near Erode, Tamil Nadu, Milky Mist was founded by T Sathish Kumar more than three decades ago and is now a large institutional player servicing hotels, restaurants and caterers.

Indigo milk cap growth