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

Non-vaccinated staff allowed mandatory rapid antigen tests

Maharashtra has modified guidelines on restrictions imposed to curb the spread of Covid-19, and put out clarifications on do Do’s and Don’ts to be followed under its ‘Break the Chain’ orders.   Starting Saturday, Rapid Antigen Tests are allowed for non-vaccinated

Probe agencies` credibility in doubt: Prithviraj Chavan

Raising concerns about the “leaks” of aspects of an ongoing investigation into incidents leading to political turmoil in Maharashtra, former chief minister and senior Congress leader Prithviraj Chavan has said the NIA is selectively leaking info on the case and it is a serious matter. &n

On vaccine shortage, Maharashtra hits back at centre

Maharashtra, suffering from a heavy number of fresh cases every day and complaining of vaccine shortage, has replied to the union health minister criticism and blamed the centre for the situation. “Union Health Minister Shri Harsh Vardhan ji needs to be reminded that Maharashtra tops t

Mumbai allows 24x7 delivery of essential services

Amid tighter movement restrictions as the city and the state continue to battle a consistently rising trajectory of fresh Covid-19 cases, Mumbai civic authorities on Thursday allowed 24-hour home deliveries of food and essential supplies through online service providers like Zomato and Swiggy on all days o

Maharashtra, centre trade charges as India reports highest ever cases

India recorded a new high of 1,15,736 daily Covid-19 cases with Maharashtra bearing nearly half of the load, as the state and the centre traded charges for the first time since the outbreak. State leaders sought to put part of the blame on the centre while union health minister Dr Harsh Vardhan slammed the

Deshmukh likely to challenge high court order in SC

Anil Deshmukh is reportedly considering approaching the supreme court Tuesday to challenge a Bombay high court order that had forced him to quit as home minister of Maharashtra a day earlier. Deshmukh tendered his resignation to governor Bhagat Singh Koshyari, citing moral grounds, after the

Visionary talk with Prithviraj Chavan, On the need for vaccination & Maha Political volcano



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter