Skip to main content

Total turnover of Amul brand products crosses Rs 52,000 crore: GCMMF


Date - 19/7/2020
Source - Moneycontrol

"The group turnover of GCMMF and its constituent member unions, representing consolidated turnover of all products sold under Amul brand is exceeding Rs 52,000 crore or USD 7 billion. GCMMF aims to achieve a group business turnover of Rs 1 lakh crore by 2024-25," it said in a statement after the 42nd AGM held at Anand.


The consolidated turnover of the Amul brand of products exceeded Rs 52,000 crore during 2019-20, the Gujarat Cooperative Milk Marketing Federation (GCMMF), which sells and produces Amul products, said on Saturday. The federation said it aims to achieve a group business turnover of Rs 1 lakh crore by 2024-25.

"The group turnover of GCMMF and its constituent member unions, representing consolidated turnover of all products sold under Amul brand is exceeding Rs 52,000 crore or USD 7 billion. GCMMF aims to achieve a group business turnover of Rs 1 lakh crore by 2024-25," it said in a statement after the 42nd AGM held at Anand.


The GCMMF said it registered a sales turnover of Rs 38,542 crore in 2019-20, which is 17 per cent higher than the previous financial year.

A rapid expansion has helped Amul record a turnover almost five times higher than Rs 8,005 crore in 2009-10, it said.

Daily milk procurement was 215.96 lakh litre per day in 2019-20, GCMMF said, quoting its Chairman Ramsinh Parmar.

"This enormous growth was a result of the high milk procurement price paid to our farmer-members which has increased by 127 per cent, from Rs 337 per kg fat in the year 2009-10 to Rs 765 per kg fat in the year 2019-20," the GCMMF said quoting Parmar.

Parmar further said that during lockdown, when private milk firms stopped procuring from farmers, milk unions of Gujarat procured an additional 35 lakh litres of milk per day, giving around Rs 800 crore extra to the rural milk producers.

India continues to be the world's largest producer of milk, and is likely to retain its prime position with an annual growth rate of 5.5 per cent during the last three to four years as against global growth of 2 per cent, GCMMF Vice Chairman Jethabhai Bharwad said.

GCMMF Managing Director RS Sodhi said the Rs 15,000 crore dairy infrastructure fund announced by Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for setting up supply chain and dairy plants will help Indian dairy industry to build around 4 to 5 crore litres of extra capacity.

"These extra five crore litres of milk collected and processed by the organised dairy industry will provide livelihood to approximately 30 lakh people in rural India.

Full article - Click Here


Comments

Post a Comment

Popular posts from this blog

Panacea Biotech shares hit 5% upper circuit after dengue vaccine completes phase I & II study

DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes, the company has said in an exchange filing. Panacea Biotech share price hit 5 percent upper circuit on the BSE on September 24 after the company completed phases I and II study of its dengue vaccine candidate DengiAIl. "Panacea Biotec Ltd. is delighted to announce the successful completion of its Phase I/II study to evaluate the safety and immunogenicity of its vaccine, DengiAll, a single-dose liveattenuated tetravalent vaccine," the company said in an exchange filing. Live-attenuated vaccines contain weakened bacteria or viruses that trigger an immune response but do not cause disease. The company said DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes. DengiAIl has been found to be safe and well-tolerated with no serious adverse effects, the company said. After a single-dose, more than 80 percent of the participants ...
Post a Comment
Read more

Check Chemcon Speciality Chemicals IPO allotment status in four simple steps

Equity shares will get credited into the accounts of eligible investors by September 30 and the listing of equity shares will be on October 1, 2020. Chemcon Speciality Chemicals, the manufacturer for pharmaceutical and oilfields industries, is expected to announce the basis of allotment early next week. As per the schedule provided by the company, the finalisation of the basis of the allotment will be done by September 28 and the initiation of refunds or unblocking of funds from ASBA account will take place on September 29. Equity shares will get credited to the accounts of eligible investors by September 30 and the listing will be on October The IPO comprised a fresh issue of Rs 165 crore and an offer for sale of Rs 153 crore by promoters. The company will utilise fresh issue proceeds for expansion of manufacturing facility, working capital requirements, and general corporate purposes. Chemcon manufactures specialised chemicals, such as Hexamethyldisilazane (HMDS) and Chloromethyl Iso...
Post a Comment
Read more

Taking Stock | Profit-booking pulls Nifty below 14,450; Sensex drops 549 points

  All the sectoral indices ended in the red with IT and PSU bank indices falling 2 percent each. The market remained under pressure on January 15 on the back of profit-booking across sectors amid weak global cues. At close, the Sensex was down 549.49 points or 1.11% at 49,034.67, and Nifty was down 161.90 points or 1.11% at 14,433.70. "The market witnessed profit-booking and following global trends. Nifty continues to resist 14,600 and has taken a dip towards 14,360. If the market closes below 14,380 levels, we might see a correction till the levels of 14,180-14,200. Momentum indicators like RSI, MACD are indicating a small correction in the markets," said Ashis Biswas, Head of Research at CapitalVia Global Research. All the sectoral indices ended in the red with IT and PSU bank falling 2 percent each. Broader markets performed in line with the main indices with BSE Midcap and Smallcap indices falling 1 percent each. Tech Mahindra, GAIL, HCL Tech, Wipro and ONGC...
Post a Comment
Read more