The GCMMF and the unions that make up the federation reported a combined group turnover of Rs 61,000 crore in 2021–22, an increase of Rs 8,000 crore from Rs 53,000 crore in 2020–21.
The Gujarat Cooperative Milk Marketing Federation (GCMMF) reported on Tuesday that the Amul cooperative’s group turnover increased by 15% annually to Rs 61,000 crore in 2021–22. GCMMF, which offers products under the Amul brand, states that it reported a revenue of Rs 53,000 crore during the previous fiscal year.
Following the AGM, GCMMF Chairman Shamalbhai Patel reported that the organization had increased its revenue by 18.46% between 2021 and 2022, exceeding the CAGR of 16% over the previous 12 years. “Our milk procurement has grown by an amazing 180% over the last 12 years. The high milk procurement price that was paid to our farmer-members during this 12-year period, which increased by 143%, was the cause of this remarkable growth.
The chairman continued, “The highly remunerative price helped us keep farmers’ interest in milk production, and better returns from dairying have motivated them to increase their investments in this sector.”
He stated that the cooperative is growing its fresh product line to include milk, curd, and buttermilk and that it will invest Rs 500 crore to build a new dairy plant in Rajkot, Gujarat. Large dairy plants will also be built in Baghpat, close to Delhi, Varanasi, Rohtak, and Kolkata, within the next two years, according to Patel.
