Amul cooperative movement celebrated its 75th anniversary by achieving a group turnover of Rs. 61,000 crores, further consolidating its position as the largest food and FMCG brand in India.
Needless to state, Amul, which is currently ranked as the 8th largest dairy organization in the world, added another Rs. 8000 crores to its group turnover in 2021-22, growing even faster than its 12-year compounded average growth rate, on the back of a rapid post-pandemic recovery in out-of-home consumption and demand from restaurants, catering, travel, and hospitality segment.
After the 48th Annual General Body Meeting of GCMMF (the organization that owns and markets products under the brand Amul), held on 19th July 2022, Shamalbhai Patel, Chairman, GCMMF, informed that the cooperative achieved 18.46% growth in turnover in 2021-22, which was even higher than 16% CAGR in turnover over the last 12 years. The Chairman also emphasized that emphasized the fact that “Over the last 12 years, our milk procurement has increased by a phenomenal 190%. This impressive growth was a result of the high milk procurement price – which has increased by 143% during these 12 years – paid to our farmer-members”.
The highly remunerative price helped us retain farmers’ interest in milk production, and better returns from dairying have motivated them to enhance their investments in this sector”, the Chairman added.
The Chairman further emphasized, “Our expansion plans are based on our milk procurement projections. Generally, every year there is capacity expansion through an investment of approximately Rs. 800 crores to Rs. 1,000 crores. We are also expanding in fresh products (milk, curd, and buttermilk). A new dairy plant, with an investment of Rs. 500 crores, will come up in Rajkot. Within two years, large dairy plants will also come up in Baghpat, near Delhi, Varanasi, Rohtak, and Kolkata”.
Taking into consideration the suggestion of PM Modi and Minister of Home Affairs and Cooperation Amit Shah, Amul has launched the latest initiative to encourage farmers to adopt organic farming and natural farming. Amul claims to be also committed to providing market linkage and technical assistance to such farmers.
In addition to this, Amul says organic vegetables and fruits will also be launched in the market soon. Special testing labs will be set up by Amul across India to enable all farmers involved in organic and natural farming to test their farm produce at reliable and affordable rates.
