Amul Cooperatives Join the Billion-Dollar League, Driving GCMMF’s Unprecedented Growth
Source: DairyNews.today
In 2008, the Gujarat Co-operative Milk Marketing Federation (GCMMF), the powerhouse behind India’s iconic Amul brand, broke barriers as India’s first billion-dollar milk cooperative with a turnover of ₹5,255 crore. Now, 15 years later, the White Revolution’s birthplace, Gujarat, proudly hosts five Amul cooperatives in the billion-dollar club, underscoring the state's pivotal role in India’s dairy industry.
GCMMF, recognized as India’s largest food product marketing organization, reached a remarkable turnover of ₹59,545 crore ($7 billion) for the fiscal year 2023-24. Among its member unions, three cooperatives have joined this elite group. The Palanpur-based Banas Dairy achieved a turnover of ₹19,003 crore, making it a $2.3 billion entity. Meanwhile, Amul Dairy in Anand, the original custodian of the Amul brand, and Himmatnagar-based Sabar Dairy both reported turnovers of ₹12,911 crore ($1.5 billion) and ₹8,939 crore ($1.1 billion), respectively. Additionally, Gandhinagar’s AmulFed Dairy, a subsidiary of GCMMF, recorded a turnover of ₹12,969 crore, further solidifying its position as a $1.5 billion cooperative.
Inching closer to this milestone is Mehsana-based Dudhsagar Dairy, owner of the Sagar brand. For the financial year 2023-24, the cooperative reported a turnover of ₹7,494 crore, positioning it as a $0.9 billion entity, just shy of the billion-dollar benchmark.
These impressive financial performances are significant for a state that, while not India’s top milk producer, has continuously expanded its milk processing capabilities, diversified into value-added products, and ensured competitive remuneration for its farmer members.
According to GCMMF’s Managing Director, Jayen Mehta, the growth stems from a strategic focus on expansion and product diversification. “Our member unions have emphasized capacity expansion, value-added product development, and robust cooperative networks both within Gujarat and across the nation,” Mehta stated.
The consolidated turnover of the Amul brand reached a staggering ₹80,000 crore ($10 billion) in 2023-24, up from ₹72,000 crore ($9 billion) in the previous fiscal year. With a network encompassing 3.6 million farmers from 18,600 villages, GCMMF oversees the daily procurement of 30 million liters of milk and operates 100 dairy processing facilities nationwide. Ranked 8th among the world’s top 20 dairy companies by the International Farm Comparison Network (IFCN) in terms of milk processing, GCMMF’s influence in the global dairy landscape continues to grow.
Inching closer to this milestone is Mehsana-based Dudhsagar Dairy, owner of the Sagar brand. For the financial year 2023-24, the cooperative reported a turnover of ₹7,494 crore, positioning it as a $0.9 billion entity, just shy of the billion-dollar benchmark.
These impressive financial performances are significant for a state that, while not India’s top milk producer, has continuously expanded its milk processing capabilities, diversified into value-added products, and ensured competitive remuneration for its farmer members.
According to GCMMF’s Managing Director, Jayen Mehta, the growth stems from a strategic focus on expansion and product diversification. “Our member unions have emphasized capacity expansion, value-added product development, and robust cooperative networks both within Gujarat and across the nation,” Mehta stated.
The consolidated turnover of the Amul brand reached a staggering ₹80,000 crore ($10 billion) in 2023-24, up from ₹72,000 crore ($9 billion) in the previous fiscal year. With a network encompassing 3.6 million farmers from 18,600 villages, GCMMF oversees the daily procurement of 30 million liters of milk and operates 100 dairy processing facilities nationwide. Ranked 8th among the world’s top 20 dairy companies by the International Farm Comparison Network (IFCN) in terms of milk processing, GCMMF’s influence in the global dairy landscape continues to grow.
