Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF), which markets the popular Amul brand of milk and dairy products, has successfully quadrupled the income of its dairy farmer-members in the last seven years, demonstrating the efficacy of the Amul model in exceeding the national goal of doubling farmer’s income in six years.
In 2016-17, Amul’s overall turnover touched the Rs. 38,000-crore mark ($6 billion).
During the last seven years, Amul’s milk procurement prices paid to its farmer-members more than doubled from Rs. 24.30 per litre for buffalo milk (Rs 337 per kg fat) in 2009-10 to Rs. 49 per litre (Rs. 680 per kg fat) in 2016-17. Since the cooperative’s total milk procurement also doubled during this period, from 90.9 lakh litres to 176.5 lakh litres per day, this effectively increased the income of its dairy farmers four-fold in the last seven years, GCMMF said in a statement here on Thursday.
The turnover of GCMMF has registered a quantum growth of 238 per cent in the last seven years, implying a cumulative average growth rate (CAGR) of 19 per cent during this period. The mantra of rapid expansion had yielded rich dividends, with GCMMF’s sales turnover increasing 3.5 times, from Rs.8,005 crore in 2009-10 to Rs. 27,043 crore in 2016-17.
Financial results of the apex body of dairy cooperatives in Gujarat, declared in the 43rd Annual General Meeting of GCMMF on Thursday June 15,2017, revealed that the group turnover of GCMMF and its constituent member unions, representing unduplicated turnover of all products sold under the Amul brand in 2016-17 was Rs. 38,000 crore ($6 billion).
GCMMF aims to achieve a business turnover of Rs. 50,000 crore and become the largest FMCG organisation in India by 2020-21.