Amul Aims To Achieve Turnover of Rs 50,000 Crore By 2021
The Gujarat Cooperative Milk Marketing Federation, which sells milk and milk products under the Amul brand, on Tuesday said it aims to achieve a business turnover of Rs 50,000 crore by 2020-21.
\In the long term, Amul aims to establish itself as the largest dairy organisation in the world—it currently ranks ninth, GCMMF said after its 45th annual general meeting held at Anand, Gujarat, on Tuesday.
The GCMMF recorded a sales turnover of Rs 33,150 crore for 2018-19—13 percent higher than the previous financial year. It has registered growth in the past decade, with its turnover growing four times during this period—from Rs 8,005 crore in 2009-10 to Rs 33,150 crore in 2018-19, a statement issued by GCMMF said.
The total turnover of GCMMF and its constituent member unions, turnover of all products sold under Amul brand, is exceeding Rs 45,000 crore or $6.5 billion.
GCMMF aims to achieve a business turnover of Rs 50,000 crore and become the largest fast-moving consumer goods organisation in India by 2020-21, it said.
In the past nine years, milk procurement by GCMMF’s milk cooperatives witnessed an increase of 153 percent, its chairman Ramsinh Parmar said.
“This enormous growth was a result of high milk procurement price paid to our farmer-members which has increased by 105 percent in this period," he said.
The time is ripe for a second white revolution, Parmar said, given that the demand for milk in India is expected to surge to 65 crore litres per day in 2050-51 from 48 crore litres per day at present.
“This means that India’s milk production needs to grow at around 3.2 percent annually for the next 40 years. This can be possible only when dairy farmers are given stable and remunerative prices through proper market linkage,” Parmar said.
The GCMMF has increased its total milk processing capacity to 360 lakh litres per day and plans to expand it to a capacity of 400 lakh litres per day in the next two years, said GCMMF’s managing director RS Sodhi.