Amul Dairy co-operative is aiming to grow at 20 percent this financial year, to touch a group turnover close to Rs 50,000 crore, a top company official said. The co-operative has also recently tied up with the government and lenders, under the Pradhan Mantri Mudra Yojana, to procure easy loans for its farmer partners.
The Amul brand, which clocked a turnover of over Rs 40,000 crore last financial year, will grow at 20 percent this year, RS Sodhi, the managing director of Gujarat Co-operative Milk Marketing Federation (GCMMF), which markets milk and milk products under the Amul brand, told PTI.
We are launching several consumer products, and are also premiumising our offerings. The growing demand will help us see a good growth this year, he added. The Amul brand includes the 18 member dairies of the Gujarat Co-operative Milk Marketing Federation (GCMMF).
GCMMF, however, registered only 8 percent increase in turnover to Rs 29,220 crores in the financial year 2017-2018, owing to a decline in commodity prices. The consumer product portfolio has been growing at nearly 15 percent on a volume basis; Sodhi pointed out, which has helped the performance of the Amuls branded products, despite lower commodity prices.
Branded consumer products have registered a growth of 14 percent in the last financial year, with products such as cheese, butter, milk beverages, paneer, cream, buttermilk and dahi having grown at 20-40 percent, Sodhi said.
The 18 member unions of GCMMF has a farmer strength of more than 36 lakh across 18,700 villages of Gujarat and is procuring on an average 211 lakh litres of milk per day which is 20 percent higher than the previous year.