New Delhi: Dairy major Amul recorded 8% increase in its turnover to Rs 29,220 crores for the financial years 2017-18.
"Gujarat Co-operative Milk Marketing Federation Ltd has registered a provisional turnover of Rs. 29,220 crores for the financial year 2017-18," it said in a statement.
The consumer products of Amul have recorded a growth of 14% over the previous fiscal with products such as cheese, butter, milk beverages, paneer, cream, buttermilk and dahi having grown at 20-40 percent.
The whole turnover increased by only 8%, as a result of the decline of 60 percent in the product sales as a result of depressed circumstances in the global as well as the local business.
"We have achieved volume sales growth in all product categories. Pouch milk which is the highest turnover product has shown double-digit value growth. In addition to this, our dairy products such as cheese, butter, milk beverages, paneer, UHT milk, flavoured milk, Paneer and fresh cream have also shown double-digit value growth," GCMMF's MD R S Sodhi said. "...we are committed to achieving sales turnover of Rs 50,000 crore by 2020-21," he added.
GCMMF said that it passes on 80-85 percent of consumer rupee back to milk producer members thus encouraging them to produce more milk.
The 18 member unions of GCMMF with farmer member strength of more than 36 lakh across 18,700 villages of Gujarat are procuring on an average 211 Lakhs litres of milk per day which is 20 percent higher than last year.
GCMMF Chairman Ramsinh P Parmar emphasised that rapid expansion has clearly yielded rich dividends for the co-operative.
"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," Parmar said.
He added that Amul plans to enhance its milk processing capacity from the current level of 320 lakh litres per day to 380–400 lakh litres per day in the next two years.