India’s Gujarat Cooperative Milk Marketing Federation (GCMMF), owner of the country’s Amul milk brand, has booked an 18% increase in turnover for the past financial year.
GCMMF said provisional sales for fiscal 2016-17, which ended on 31 March, totalled 27,085 crores (US$4.2bn),
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GCMMF said the increased sales were the result of continued “higher milk procurement, continuous expansion in terms of adding new markets, launching of new products and adding new milk processing capacities across India”.
GCMF said it launched 14 new branches in India over the last four years to reach the country’s “interior markets” and is working towards a turnover target of 50,000 crores annually by 2020-21.
Chairman Shri Jethabhai Patel said “rapid expansion has clearly yielded rich dividends”. “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 GCMMF during the next five years.”
Patel said Amul plans to enhance its milk processing capacity from the current level of 300 lakh litres per day to 380 lakh litres daily in the next three years.
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By GlobalDataThe group now comprises 18 member unions drawn from 18,700 villages across Gujarat, which is India’s westernmost state.
Meanwhile, GCMF said its member unions “have started creating their own milk processing plants in the states of Haryana, Uttar Pradesh, Maharashtra, Madhya Pradesh, West Bengal and Rajasthan in order to meet milk and milk product demand” in India’s major conurbations.
“The member unions have also started milk procurement from other states so that milk producers of those states also benefit from the Amur model,” the group said.
In December, Indian prime minister Narendra Modi opened a new cheese manufacturing plant for GCMMF. The event marked the start of full production of the plant, in Gujurat state, which has a production capacity of around 50 tonnes of cheese daily.
