Amul’s turnover rises by 8% to
` 29,220 crores
GUJARAT CO-OPERATIVE MILK MARKETING FEDERATION (GCMMF) has reported an 8 per cent increase in its turnover for the financial year 2017-18. It has registered a provisional turnover of ₹ 29,220 crores.
The branded consumer products of the GCMMF have registered a growth of 14 per cent over the previous fiscal. Products such as cheese, butter, milk beverages, paneer, cream, buttermilk and dahi have grown by 20-40 per cent. The total turnover grew by only 8 per cent, mainly due to a 60 per cent decline in commodity sales as a result of depressed conditions in the global and local markets.
“We have achieved volume sales growth in all product categories. Pouch milk which is the highest turnover product has shown the double-digit value growth. In addition to this, our dairy products such as cheese, butter, milk beverages, paneer, UHT milk, flavoured milk, paneer and fresh cream have also shown the double-digit value growth. We are committed to achieve the sales turnover of ₹ 50,000 crore by 2020-21,” said the GCMMF Managing Director, Mr. R.S. Sodhi.
The GCMMF passes on 80-85 per cent of the consumer rupee back to its milk producer members, thus encouraging them to produce more milk. The 18 memberunions of GCMMF, with the farmer-members strength of more than 36 lakh across 18,700 villages of Gujarat, are procuring on an average 211 lakh litres of milk per day, which is 20 per cent higher than last year.
The GCMMF Chairman, Mr. Ramsinh Parmar, emphasised that the rapid expansion has clearly yielded rich dividends for the cooperatives. “Based on the estimated growth in market demand for Amul products and our future marketing efforts, we anticipate at least 20 per cent CAGR growth in the business of Amul Federation during the next five years,” Mr. Parmar said.
He also said that Amul plans to enhance its milk processing capacity from the current level of 320 lakh litres to 380-400 lakh litres per day in two years.