Milma clocks 5.52% growth in turnover for 2023-24
The Kerala Cooperative Milk Marketing Federation (KCMMF), popularly known as Milma, has recorded a turnover of ₹4,346.67 crore for the 2023-24 financial year, reflecting a growth of 5.52% over the previous fiscal year.
In 2022-23, Milma’s turnover stood at ₹4,119.25 crore. The financial results were disclosed at the 51st annual general body meeting held at the Milma Dairy facility here.
During the meeting, a revenue budget of ₹589.53 crore and a capital budget of ₹70.18 crore were also ratified. In a goodwill gesture for the upcoming Onam festival, Milma announced a subsidy of ₹100 per bag of cattle feed, valid for 50 days, aimed at supporting farmers.
Addressing the challenges posed by rising costs, which have compelled many dairy farmers to exit the sector, the meeting saw resolutions urging the government to implement comprehensive initiatives to attract individuals to the dairy industry.
Milma Chairman K.S. Mani, who presided over the gathering, stated that the organisation was committed to a range of projects designed to enhance milk production and improve the conditions of dairy farmers.
“Milma and its regional unions are taking steps to keep cattle feed prices manageable for farmers. In addition to providing an increased price for milk, we are introducing attractive incentives to support farmers,” he said. He also highlighted Milma’s proactive measures during natural disasters, particularly in response to the severe landslides that affected Wayanad.
On the topic of product diversification, Mr. Mani emphasised the ‘Repositioning Milma’ initiative, which aims to standardise pricing, design, packaging, and quality across its product line. He assured that milk and other Milma products would be readily available throughout the Onam season.
The meeting passed ten significant resolutions, including the call for a year-round cattle feed subsidy for farmers. Additional resolutions included provisions for cost-effective medical assistance, insurance coverage for dairy farmers and their cattle, interest-free loans for livestock acquisition, and a comprehensive survey of cattle and milk production statistics in the State. The resolutions also stressed the need to ensure fair land valuation for dairy cooperative societies and allocated a percentage of funds from private players who profit from sourcing milk from other States at lower prices.
Expressing solidarity with the victims of the recent landslides in the Chooralmala region, attendees agreed to donate their sitting fees to the dairy cooperative society at Chooralmala.