Five Amul Cooperatives in Billion Dollar Club now
In 2008, the Gujarat Co-operative Milk Marketing Federation (GCMMF), which markets home-grown dairy brand Amul, earned the prestigious tag of India’s first billion-dollar milk cooperative with its turnover reaching Rs 5,255 crore.
A decade-and-a half later, Gujarat, the cradle of the White Revolution, is home to five billion-dollar milk cooperatives.
GCMMF, India’s largest food product marketing organisation, saw its turnover reach a staggering Rs 59,545 crore ($7 billion) in the financial year 2023-24. Three other member unions of GCMMF — Palan pur-based Banas Dairy, Anand-based Amul Dairy, and Himmatnagar-based Sabar Dairy have also joined the billion-dollar club. Banas Dairy recorded a Rs 19,003 crore turnover, making it a US $2.3 billion entity. India’s oldest milk cooperative, Amul Dairy, the owner of the Amul brand, recorded a Rs 12,911 crore turnover, turning it into a $1.5 billion cooperative.
Sabar Dairy, on the other hand, recorded a Rs 8,939 crore turnover, finding its place in the coveted club with a $1.1 billion turnover. Gandhinagar-based AmulFed Dairy, a unit of GCMMF, also recorded a Rs 12,969 crore turnover, turning into a $1.5 billion milk co-operative.
What’s more, Mehsanabased Dudhsagar Dairy, the owner of the Sagar brand, is close to achieving this feat. In the financial year 2023-24, Mehsana Dairy recorded a turnover of Rs 7,494 crore, turning it into a US $0.9 billion enterprise.
These staggering turnovers are important seen in the light of the fact that Gujarat has never been the top milk producing state in India. They are testament to the dairy cooperatives’ continuously augmenting their milk processing capacities, making value-added products and ensuring highest remuneration to the milk producing farmers.
GCMMF’s managing director, Jayen Mehta, attributes this growth to a focus on expansion and diversification. “All our member unions have focused on expansion, enhanced their capabilities to process milk and milk products, introduced value-added products, and strengthened the cooperative network both within and outside Gujarat,” he said.
The group turnover of the Amul brand reached Rs 80,000 crore ($10 billion) in 2023-24 from Rs 72,000 crore ($9 billion) in the financial year 2022-23.
With a network of 36 lakh farmers across 18,600 villages of Gujarat and 18 member unions that procure 300 lakh litres of milk per day, the federation, the world’s largest farmer-owned dairy cooperative, is ranked 8th among the top 20 dairy companies in the w orld in terms of milk processing, according to the International Farm Comparison Network (IFCN). Together, the milk unions of Gujarat have a network of over 100 dairy processing plants across the country.