Vadodara: The Gujarat Co-operative Milk Marketing Federation Limited ( GCMMF ) on Saturday said that it has registered a turnover of Rs 59,545 crores ($7 billion) in the 2023-24 financial year, 8% higher than the previous year. The group turnover of the " Amul " brand has reached Rs 80,000 crore ($10 billion) in 2023-24 from Rs 72,000 crore ($9 billion) in the 2022-23 financial year. GCMMF announced this at its 50th annual general meeting on Saturday.
"GCMMF has achieved a milestone in emerging as the strongest food brand in the world in its golden jubilee year," said GCMMF chairman Shamal Patel. "We are planning continuous expansion in terms of adding new markets, launching new products and adding new milk processing capacities across India," he said. "Amul has been ranked as the world's strongest food brand and the strongest dairy brand by Brand Finance, UK, the world's leading brand consultancy," a release from the federation said.
It said the federation is the world's largest farmer-owned dairy cooperative with 36 lakh farmers across 18,600 villages of Gujarat and 18 member unions which procure 300 lakh litres of milk a day. "GCMMF also ranks 8th among the Top 20 dairy companies in the world in terms of milk processing, according to the International Farm Comparison Network (IFCN)," the release further said. GCMMF's vice-chairman Valamji Humbal said support from the govt of India led by Prime Minister Narendra Modi, cooperatives minister Amit Shah and the Gujarat govt has.