July 7, 2021
The total turnover of GCMMF – Amul- has grown 2 per cent to Rs 39,200 crore despite the COVID-19 pandemic. Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF) had posted a 17 per cent jump in revenue during the financial year 2019-20 to Rs 38,550 crore. Amul’s Managing Director R S Sodhi said the growth slowed down during the last fiscal but he expects sales to bounce back in the current financial year 2021-22. “We achieved two per cent growth in turnover during the last fiscal year to Rs 39,200 crore,” Sodhi added.
Though, he stressed that the turnover of its branded consumer products like fresh milk, cheese, curd, buttermilk and paneer increased 8.5-9 per cent. Sodhi explained that the sales of ice cream were down 35 per cent last financial year, mostly as of the nationwide lockdown during summer and also the commodity business of products like skimmed milk powder (SMP) was also impacted.
The domestic consumption of milk and other dairy products remained strong but the demand from hotels, restaurants, and cafeterias (HoReCa segment) was severely affected, he said.
According to Sodhi, they expect to return to higher double-digit growth during the current financial year. The cooperative sells 150 lakh litres of milk per day; of which, Gujarat contributes around 60 lakh litres, Delhi-NCR 35 lakh litres and Maharashtra 20 lakh litres, he added. It also sells milk in Punjab, Uttar Pradesh and Kolkata. GCMMF has an installed processing capacity of 360 lakh litre per day. Recently, GCMMF hiked milk prices of Amul by Rs 2 per litre across India from July 1 due to an increase in input costs. Rates have been increased after one and a half years. As a policy, GCMMF passes on almost 80 paise of every rupee paid by consumers for milk and milk products to the milk producers. The price revision would help in sustaining remunerative milk prices to its milk producers and to encourage them for higher milk production, it added.