After IFFCO, there is a good news from another co-op titan Amul for the year 2018-19. Despite adverse market conditions for dairy products both at national and international levels, Gujarat Co-operative Milk Marketing Federation (GCMMF), which markets the popular brand Amul has registered a provisional turnover of Rs. 33,150 Crore for the financial year 2018-19. The sales turnover achieved by Amul Federation is 13% higher than in the previous financial year.
The Amul Federation has been achieving a Compound Annual Growth Rate (CAGR) of more than 17.5% since the last 9 years because of higher milk procurement, continuous expansion in terms of adding new markets, launching of new products and adding new milk processing capacities across India.
The provisional unduplicated group turnover of Amul Federation and its 18 member union has crossed Rs. 45,000 Crore which is also 13% higher than in the last year.
The 18 member Union of Amul Federation with farmer member strength of more than 36 lakh across 18,700 villages of Gujarat are procuring on an average 230 Lakhs litres of milk per day which is 10% higher than the last year.
Ramsinh P Parmar, Chairman, Amul Federation, emphasized the fact that mantra of rapid expansion has clearly yielded rich dividends for Amul Federation. “Based on estimated growth in market demand for Amul products and our future marketing efforts, we anticipate at least 20% CAGR growth in the business of Amul Federation during the next five years.
Jethabhai Bharwad, Vice Chairman, Amul Federation added that member unions of Amul plan to enhance their milk processing capacity from the current level of 350 lakh litres per day to 380 – 400 lakh litres per day in the next two years.
On behalf of 36 lakhs milk producer members of Gujarat, Ramsinh Parmar and Jethabhai Bharwad have conveyed their sincere gratitude to the Government of Gujarat and the Government of India for their continued and timely support for various scheme related to producers.
R S Sodhi, Managing Director, Amul Federation said that “We have achieved volume sales growth in all product categories. Pouch milk which is the highest turnover product has shown good growth in almost all the markets.
Sodhi informed that in all the products category, we are getting double digit growth in volume. He added that during last the financial year, we have launched new varieties of flavored milk, chocolates, fruit based Amul Tru, camel milk and entire new Kulfi range.