GCMMF registers turnover of over Rs 33000 crore in FY 18-19

GCMMF registers turnover of over Rs 33000 crore in FY 18-19

Agency News

Anand, Apr 1 : Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), which markets the popular Amul brand of milk and dairy products has registered a provisional turnover of Rs 33,150 Crores for the financial year 2018-19. A press release of the GCMMF here today revealed that the sales turnover achieved by it is 13% higher than that of the last financial year.

It has been achieving a Compound Annual Growth Rate (CAGR) of more than 17.5 pre cent since 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 18 member Unions the Federation with member strength of more than 36 lakhs across 18,700 villages of Gujarat are procuring on an average 230 Lakh liters of milk per day which is 10% higher than last year.

Chairman of the Federation, Ramsinh Parmar said, “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.''

R S Sodhi, Managing Director of GCMMF 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 market.'' Notably, the Federation has achieved turnover in spite of adverse market condition for dairy products at National as well as at International level. (UNI)