Group turnover of GCMMF rises 11%, crosses ₹80000 cr in 2023-24

The group turnover of Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), the umbrella body of milk cooperatives in Gujarat that markets and sells milk and milk products under the brand Amul --- crossed ₹80,000 crore (USD 10 billion) during 2023-24. This is about 11 per cent growth compared to ₹72,000 crore (USD 9 billion) clocked during the previous year in 2022-23.  However, the percentage of growth declared after the 50th Annual General Meeting of GCMMF concluded on Saturday, has fallen from the 18 per cent clocked in 2022-23. Officials said that the rise in prices of Amul products during 2023-24 have slightly impacted the sales volumes, causing a decline in sales figures. Shamalbhai Patel, Chairman, GCMMF, stated in an official release, “GCMMF has achieved a historic milestone of emerging as the strongest food brand in the world in its golden jubilee year. We are planning continuous expansion in terms of adding new markets, launching new products, and adding new milk processing capacities across India.” Amul has been ranked as the world’s strongest food brand and the strongest dairy brand as per Brand Finance, UK, world’s leading brand consultancy. Amul’s brand strength is attributed to its strong performance in familiarity, consideration, and recommendation metrics, the release added.  GCMMF, the world’s largest farmer owned dairy cooperative in the world with its 36 lakh farmers , across 18,600 villages of Gujarat and 18 member Unions procure 300 lakh litres of milk per day. GCMMF also ranks 8th among the top 20 dairy companies in world in terms of milk processing as per International Farm Comparison Network (IFCN).