BWI: GCMMF (AMUL) Beats Recession, Achieves a Turnover of Rs. 6700 Crores

Press release from Business Wire India
Source: Amul
Friday, June 05, 2009 04:20 PM IST (10:50 AM GMT)
Editors: General: Consumer interest, Food & drink; Business: Advertising, PR & marketing, Banking & financial services, Business services, Commodities & materials, Financial Analyst, Stock exchanges
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GCMMF (AMUL) Beats Recession, Achieves a Turnover of Rs. 6700 Crores


Anand, Gujarat, India, Friday, June 05, 2009 -- (Business Wire India) -- Gujarat Co-operative Milk Marketing Federation Limited (Amul), the largest dairy co-operative of the country has once again proved that efficiency of co-operatives can successfully counter the recessionary trends of the economy thereby ensuring consistent livelihood to the farmer producer and offering value for money products to its consumers. For the third consecutive year, it has posted a double digit growth turnover reaching Rs. 6700 crores. The unduplicated turnover of the dairy co-operatives of Gujarat would be approximately Rs. 10000 crores (2 billion US $). Not resting on the laurels of the past, instead, learning that the foundations of successful organization are rooted in the process of systematic long term planning, GCMMF has chalked out a mission 2020, a long term plan which envisages that dairy co-operatives turnover will reach Rs.27000 crores by the year 2020. This plan is backed up by relevant strategies in co-operative working, increasing productivity of milk cattle, higher processing infrastructure to handle the peak milk procurement of 195 lac ltrs per day. Special emphasis will also be given to capture liquid milk market of major metro cities.

This remarkable performance from Amul has come at a time when the International dairy markets are reeling under the impact of world-wide recession and slump in global demand. Pandemic economic turmoil has taken its toll, as international prices of all major dairy products have declined drastically in recent months. However, with its sharp focus on domestic Indian market, Amul has successfully insulated Indian farmers from all the turbulence in global dairy trade. Amul is leading the dairy co-operative sector towards a pivotal role in alleviating the adverse impact of economic slowdown in India. This co-operative has helped to appropriately diversify the rural economy, thereby shielding rural India from the worst impact of the current economic crisis. It is already providing the best employment option for displaced workers from urban manufacturing sector, who after losing their jobs due to recession, have started reverse migration from cities back to villages. These displaced workers can sell milk to their village dairy co-operative society and thus generate regular income for themselves and their families. Amul has helped to provide a safety net to the most vulnerable and marginalized section of our population, which otherwise suffers the worst consequences of any economic crises. Revenue inflow from dairy co-operatives led by Amul has contributed towards strengthening rural purchasing power, helping growth in rural economy to offset any slowdown in urban economy.

In an effort to interface directly with consumers and enhance visibility of brand 'Amul', GCMMF has expanded its network of Amul Parlors to more than 4000 parlors across various towns and cities of India. This includes 50 Amul Parlors in major railway stations and more than 50 special Amul Ice-cream scooping parlors. GCMMF amply demonstrated its commitment towards sustainable ecological development of our nation, as its farmer members celebrated our 61st year of independence by planting 52.74 lakh saplings across 21 districts of Gujarat, on 15th August 2008. During the last two years, members of GCMMF have planted more than 71.65 lakh trees, demonstrating their resolve to preserve and improve our natural environment.


CONTACT DETAILS
R. S Sodhi, Chief General Manager, G.C.M.M.F. Ltd., +91 (02692) 221211/ +91 9824011058, sodhi@amul.coop

KEYWORDS
CONSUMER, FOOD, MARKETING, BANKING, BUSINESS SERVICES, COMMODITIES, Financial Analyst, STOCK EXCHANGES

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