GCMMF registers Rs 39,248-cr turnover in 2020-21
The Gujarat Cooperative Milk Marketing Federation GCMMF, which markets Amul brand of milk and dairy products, registered a turnover of Rs 39,248 crore in 2020-21, it said on Tuesday.The Cooperative had posted a turnover of Rs 38,542 crore in the previous financial year.The turnover of the Amul group GCMMF and member unions crossed Rs 53,000 crore in the year when it celebrates the 75th year of Amul cooperative movement.
The Cooperative had posted a turnover of Rs 38,542 crore in the previous financial year.
The turnover of the Amul group (GCMMF and member unions) crossed Rs 53,000 crore in the year when it celebrates the 75th year of Amul cooperative movement. GCMMF aims to double its group turnover to Rs 1 lakh crore by 2025, it said after its 47th annual general meeting (AGM).
GCMMF had registered a sales turnover of Rs 38,542 crore in 2019-20, a rise of 17 per cent as compared to the previous financial year. Consolidated turnover of all products sold under the 'Amul' brand was Rs 52,000 crore last financial year.
''Despite the negative impact of the COVID-19 pandemic on demand from restaurants, hotels and catering segment, as well as adverse impact on dairy commodity markets, Amul Federation (GCMMF) registered a turnover of Rs 39,248 crore in 2020-21, while the Amul group's turnover crossed Rs 53,000 crore,'' it said in a statement.
Amul's consumer pack business grew 8.1 per cent year-on-year, while bulk dairy commodities as well as sales from restaurants and hotels suffered a decline in 2020-21, due to COVID-19, the statement added.
GCMMF, the apex body of 18 dairy cooperatives in Gujarat, achieves an impressive turnover in the 75th year of the Amul cooperative movement that was born in 1946, leading to its establishment in 1973.
''This Cooperative, which began with two small villages collecting just 250 litres of milk per day in 1946, today handles more than 29 million litres of milk on a peak operating day. Today, 75 years hence, Amul is the largest food and FMCG (fast-moving consumer goods) brand in India,'' said the statement.
Compared to the previous year, milk procurement of all member unions under Amul Federation in 2020-21 registered 14 percent growth, and the cooperatives handled an extra 35-40 lakh liters of milk every day during the pandemic period, it said.
''Over the past 11 years, our milk procurement has witnessed a phenomenal increase of 171 per cent.
''This enormous growth was a result of the high milk procurement price paid to our farmer-members which has increased by 136 per cent during this period,'' said the statement, quoting GCMMF Chairman Shamalbhai Patel.
GCMMF Managing Director R S Sodhi said that with out-of-home consumption affected due to the pandemic, their focus was towards enhancing in-home consumption of products.
''We redesigned our marketing campaigns to educate and inform consumers about using our range of products to try our restaurant-style dishes at home.
''Impressive growth in sales of our consumer products in the household segment, helped us overcome the impact on demand from the institutional segment,'' he said.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)