Punjab’s pride Milkfed is on growth path with a prospect of 18 per cent growth this fiscal.
Milkfed at present exports only one product ‘Ghee’ to various nations such as Dubai, Oman, Bahrain, Doha, Kuwait, Muscat, Australia, New Zealand and Bangladesh. “We also want to expand overseas market of our most popular export item Ghee in other countries like Singapore, Malaysia, Hong Kong,” an official associated with the Cooperative’s international business said.
Milkfed on an average exports 500 tonne of Ghee to other countries with average export value of Rs 15 crore. “With the launch of new product and expansion of Ghee market, we want our exports to go up to Rs 25 crore,” he said.
Milkfed has a milk processing facility in Ludhiana which is certified for export. With the rising procurement of milk and expanding domestic market, Milkfed is eyeing total turnover of Rs 1,750 crore by end of current fiscal, up by 18 per cent.
Milkfed is also aggressively adding 1,500 new cooperative societies in this year which will further boost its efforts to source milk from small dairy farmers across Punjab. Presently, it has over 6,000 societies.