Gujarat based dairy cooperative giant GCMMF which sells its products under the brand name of Amul, has secured the 2nd position in the world top 300 cooperatives. The ranking is based on the ratio of turnover over gross domestic product (GDP) per capita.
On Thursday, the International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (Euricse) launched the 2022 edition of the World Cooperative Monitor.
The first position was secured by India’s fertilizer cooperative giant Amul. Whereas third and fourth positions have been gained by France based Groupe Credit Agricole and Brazil based Sistema Unimed. Germany based Rewe Group secured the fifth position.
Talking to Indian Cooperative GCMMF Managing Director R S Sodhi thanked the global body and credited the dairy farmers for this achievement. “Dairy farmers’ untiring efforts to make India lead in dairy production are bearing fruits”, said Sodhi while remembering Verghese Kurien for the novel concept.
Amul was formed in 1946, it is a cooperative brand managed by Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF). The model has helped India to emerge as the largest milk producer in the world.
More than 16 million milk producers pour their milk in 18 lakh dairy cooperative societies across the country. Their milk is processed in 222 district cooperative milk unions and marketed by 28 state marketing federations, ensuring a better life for millions.
Amul group’s turnover is more than Rs 61,000 crore. It ranked as the 8th largest dairy organization in the world, added another Rs. 8000 crores to its group turnover in 2021-22, growing even faster than its 12-year compounded average growth rate, on the back of rapid post-pandemic recovery in out-of-home consumption and demand from restaurants, catering, travel and hospitality segment.
The World Cooperative Monitor is a project designed to collect robust economic, organizational, and social data about cooperatives worldwide. It is the only report of its kind collecting annual quantitative data on the global cooperative movement. 2022 marks the eleventh edition of this annual research report produced by the ICA with the scientific and technical support of the European Research Institute on Cooperative and Social Enterprises (Euricse).
