Amul notches Rs.6,700 crore turnover

April 2nd, 2009 - 7:17 pm ICT by IANS  

Anand (Gujarat), April 2 (IANS) Gujarat Co-operative Milk Marketing Federation (GCMMF), which owns the Amul brand of dairy products, posted a turnover of Rs.6,705 crore (Rs.67.05 billion) in 2008-09, reflecting an increase of around 28 percent, the company announced Thursday in a statement.
The federation’s turnover has almost doubled over the last three years, the statement said, adding that the group turnover of GCMMF and its dairy 13 cooperatives, all members of the federation, has touched Rs.10,000 crore.

“With its quality products and fair pricing, at a time when the economy is witnessing recessionary trends, GCMMF has proven that the business which is engaged in uplift of the farmers, will continue to grow,” it said.

The federation’s milk procurement grew by 15 percent reaching a peak of 1.1 crore litres a day last winter, federation managing director B.M. Vyas said, and attributed it to “the remunerative prices paid out to farmers consistently year after year”.

The federation has now targeted turnover of Rs.8,000 crore for this fiscal.

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