Food Connect India
Image default
Breaking NewsDairyLatest News

Amul group cloaks a turnover of Rs. 61,000 crore

Gujarat Cooperative Milk Marketing Federation (GCMMF) proudly announced that Amul cooperative’s group turnover rose 15 per cent year-on-year to Rs. 61,000 crores in 2021-22. It had reported a turnover of Rs. 53,000 crores in the preceding fiscal and according to the federation, GCMMF and its constituent member unions registered a group turnover of Rs. 61,000 crores in 2021-22, a rise of Rs. 8,000 crore compared to Rs. 53,000 crores in 2020-22.

GCMMF registered a turnover of Rs. 46,481 crores in 2021-22, a rise of 18.46 per cent compared to the preceding financial year on the back of a rapid post-pandemic recovery in out-of-home consumption and demand from restaurants, catering, travel and hospitality segments, it said.

Amul cooperative movement celebrated its 75th anniversary by achieving a group turnover of Rs. 61,000 crores, further consolidating its position as the largest food and FMCG brand in India”, GCMMF said after its 48th annual general meeting.

The federation achieved 18.46 percent growth in turnover during 2021-22, which was even higher than the 16 percent CAGR over the last 12 years.

“Over the last 12 years, our milk procurement has increased by a phenomenal 190 percent.” This impressive growth was driven by the high milk procurement price paid to our farmer-members, which has increased by 143 percent over the last 12 years. The highly remunerative price helped us retain farmers’ interest in milk production, and better returns from dairying have motivated them to enhance their investments in this sector,” said AGM of GCMMF Chairman Shamalbhai Patel.

He said that the cooperative is expanding in fresh products (milk, curd, and buttermilk), and it will set up a new dairy plant in Rajkot, Gujarat, at an investment of Rs. 500 crores. Within two years, large dairy plants will also come up in Baghpat, near Delhi, Varanasi, Rohtak, and Kolkata.

GCMMF MD Dr. Director R.S. Sodhi said the return of out-of-home consumption resulted in high growth across most product categories. “Our milk-based beverages business grew by 36 percent in value terms, despite the peak summer season of 2021 being impacted by the second wave of COVID-19. “Our ice-cream business also saw a sharp revival with more than 50 per cent value growth in 2022,” he said.

Sodhi added. Amul’s flagship brand Amul Butter grew by 17 per cent, and the ghee business grew by more than 19 per cent in value terms, Sodhi added. Sodhi further said that Amul has launched the latest initiative to encourage farmers to adopt organic and natural farming and is committed to providing market linkage and technical assistance to such farmers.

In addition to this, organic vegetables and fruits will also be launched on the market soon. “Special testing labs will be set up by Amul across India to enable all farmers involved in organic and natural farming to test their farm produce at reliable and affordable rates,” he said.

 

Related posts

Plant-based dairy diversifies, “nature-identical” protein concepts spotlighted

foodconnectindia

Indian hotel sector continues on the path of recovery

foodconnectindia

Asahi Kasei introduces revolutionary Premium Wrap in affordable pricing

foodconnectindia

Leave a Comment