The Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF), which markets dairy products under the Amul brand, will invest around Rs 1,000 crore over the next two years to set up milk processing plants, and another Rs 500 crore on facilities for new products like edible oil, according to MD R S Sodhi.
In an interview with PTI, Sodhi said GCMMF expected 12-15 per cent growth in revenue in the current fiscal year from Rs 38,550 crore during the last fiscal year despite COVID-19 pandemic, as demand for branded food products had increased.
The MD also said the processing capacity would increase to 420 lakh litres per day from the current 380 lakh litres per day. On new businesses, Sodhi said the cooperative had started manufacturing sweets as well as bakery items using dairy fats. Besides, he said, GCMMF had forayed into edible oil and potato processing segments as part of its objective to boost income of farmers from Gujarat and other states.
Edible oils will be marketed under the new brand ‘Janmay’. It will produce groundnut oil, cottonseed oil, sunflower oil, mustard oil and soybean oil. “We already have few plants for edible oil, bakery and potato processing. We will invest Rs 400-500 crore on setting up more plants in these new business areas over the next two years,” Sodhi said. Sodhi noted that household consumption of milk and other milk products has risen, compensating loss of sales caused by the closure of hotels, restaurants, and cafeterias (HoReCA segment) during the lockdown period. Amul sells 140 lakh litres of fresh milk per day, mainly in Gujarat, Delhi-NCR and Uttar Pradesh. Its dairy products are sold across the country.
The Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF), which markets dairy products under the Amul brand, will invest around Rs 1,000 crore over the next two years to set up milk processing plants, and another Rs 500 crore on facilities for new products like edible oil, according to MD R S Sodhi.
In an interview with PTI, Sodhi said GCMMF expected 12-15 per cent growth in revenue in the current fiscal year from Rs 38,550 crore during the last fiscal year despite COVID-19 pandemic, as demand for branded food products had increased.
The MD also said the processing capacity would increase to 420 lakh litres per day from the current 380 lakh litres per day. On new businesses, Sodhi said the cooperative had started manufacturing sweets as well as bakery items using dairy fats. Besides, he said, GCMMF had forayed into edible oil and potato processing segments as part of its objective to boost income of farmers from Gujarat and other states.
Edible oils will be marketed under the new brand ‘Janmay’. It will produce groundnut oil, cottonseed oil, sunflower oil, mustard oil and soybean oil. “We already have few plants for edible oil, bakery and potato processing. We will invest Rs 400-500 crore on setting up more plants in these new business areas over the next two years,” Sodhi said. Sodhi noted that household consumption of milk and other milk products has risen, compensating loss of sales caused by closure of hotels, restaurants and cafeterias (HoReCA segment) during the lockdown period. Amul sells 140 lakh litres of fresh milk per day, mainly in Gujarat, Delhi-NCR and Uttar Pradesh. Its dairy products are sold across the country.
