No slowdown in dairy industry, says Amul chief

GCMMF plans bigger forays in the sweet market with plants in leading cities

geetanjali

Geetanjali Minhas | August 31, 2019 | Mumbai


#kh   #sdfsdf   #Economy   #dairy industry   #milk   #Amul  


Allaying fears of an economic slowdown, RS Sodhi, managing director of Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF) which owns the brand Amul, has said there is no slowdown in the dairy industry which is growing at an average of 14 percent. Amul, the industry leader, was witnessing a double-digit growth in each of its segments with an average growth of 25 percent across segments.

“The company has grown overall 24-25% in the first five months of FY20 and has seen double-digit volume growth across categories including milk, cheese and ice cream. The growth in the ice cream segment alone may be more than 20%,” he said. “For the last ten years Amul has been growing at the rate of 18percent to 19 percent. With rising disposable incomes, consumers are spending more on protein and fat rich diet including dairy products. As far as dairy industry is concerned I don’t see any slowdown.”
He expected the GCMMF revenue to rise from Rs 33,000 crore last year to around Rs 40, 000 crore this year. As for the Amul brands, against Rs 42,000 crore last year, he expects the revenues to touch Rs 52,000 crore in FY 20.

He was speaking to reporters on the sidelines of the ‘FICCI Foodworld India 2019 - Driving Innovation in Food Processing Sector’, jointly organized by FICCI with the ministry of food processing industries earlier this week in Mumbai.

Speaking on the increasing price of milk and milk products, he clarified that the amount paid to the farmer had been declining by the year. Further, in near future, “I do not foresee any increase in the milk prices though there may be a very small increase in [prices of other] products.”

Sodhi said that the company was focusing on fresh products, especially, Indian sweets, as it is a large market. “We already have a few products but we want to get into the fresh local sweets market which will have a shelf life of at least 40 days. We plan to set up plants in various places including Mumbai, Surat, Delhi and Kolkata to offer local delicacies. Mumbai’s sweets market itself is worth Rs 1,700 crore. You can understand the scope of this business. We will invest in setting up the facilities but it will not be very significant.”

Comments

 

Other News

When Golwalkar decided to become a monk…

Golwalkar: The Myth Behind The Man, The Man Behind The Machine By Dhirendra K. Jha Simon and Schuster India, 400 pages, Rs 899

AI can transform healthcare sector…

Over the last decade, India has initiated a range of progress-driven policies to advance the health sector towards greater overall digitisation. Frontline health workers are now trained to adopt digital health solutions, evolving from traditional paper-based record keeping systems to a centralised digital

An ideal primer on the Equality debate

Who Is Equal?: The Equality Code of the Constitution Saurabh Kirpal Penguin/Vintage, 304 pages, Rs 699 The idea of equality holds a place

Launched: TATA Aircraft Complex to manufacture C-295 aircraft

Prime minister Narendra Modi and his Spanish counterpart, Pedro Sanchez, jointly inaugurated the TATA Aircraft Complex for manufacturing C-295 aircraft at TATA Advanced Systems Limited (TASL) Campus in Vadodara, Gujarat on Monday. Both the PMs also took a walkthrough of the exhibition showcased on the occa

Why everybody is talking about Sally Rooney’s ‘Intermezzo’

Intermezzo By Sally Rooney Faber and Faber, 448 pages, Rs 699 Sally Rooney published her first novel, ‘Conversations with Friends’ (2017), when she was in her mid-twenties. It won both critical and popular acclaim. Within a year, she was ba

Her turn to lead: Confronting gender inequality in politics

India is the world’s largest democracy, but the glaring gender disparity in its political representation continues to spark debates. Women, who outnumber the men (according to NFHS-5) in the country, remain significantly underrepresented in its political arena. This glaring disparity calls into quest

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter