Mumbai: Dairy co-operative Amul is aiming to grow at 20 per cent this financial year, to touch a group turnover of close to Rs 50,000 crore, on the back of growing consumer portfolio, premiumisation and rising demand, a top company official said.
"The Amul brand, which clocked a turnover of over Rs 40,000 crore last financial year, will grow at 20 per cent this year," RS Sodhi, the managing director of Gujarat Co-operative Milk Marketing Federation (GCMMF), which markets milk and milk products under the Amul brand, told PTI here.
"We are launching several consumer products, and are also premiumising our offerings. The growing demand will help us see a good growth this year," he added.
The Amul brand includes the 18 member dairies of the Gujarat Co-operative Milk Marketing Federation (GCMMF). GCMMF, however, registered only 8 per cent increase in turnover to Rs 29,220 crore in financial year 2017-2018, owing to a decline in commodity prices.
The consumer product portfolio has been growing at nearly 15 per cent on a volume basis, Sodhi pointed out, which has helped the performance of the Amul's branded products, despite lower commodity prices.
"Branded consumer products have registered a growth of 14 per cent in the last financial year, with products such as cheese, butter, milk beverages, paneer, cream, buttermilk and dahi having grown at 20-40 per cent," Sodhi said.
The 18 member unions of GCMMF has a farmer strength of more than 36 lakh across 18,700 villages of Gujarat, and is procuring on an average 211 lakhs litres of milk per day which is 20 per cent higher than the previous year.
The co-operative has also recently tied up with the government and lenders, under the Pradhan Mantri Mudra Yojana, to procure easy loans for its farmer partners.
"The scheme will help rural entrepreneurs immensely, to upgrade their facilities and will also help distributors and transporters. It will enhance the overall employment opportunities in rural India," Sodhi said.