GCMMF eyes Rs 8K cr turnover in the 2009-10

Buoyed by the impressive growth in its turnover during the fiscal 2008-09, Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), which owns Asia's largest milk brand called Amul, has set a target of achieving a turnover of Rs. 8,000 crore in next year

"The Federation plans to continue its stride and march ahead with a target turnover of Rs 8,000 crore for the coming year", GCMMF said in a statement.

GCMMF has reported a jump of 28 per cent in its turnover during the fiscal 2008-09. The turnover of the co-operative marketing organisation rose to Rs 6,705 crore (Rs. 67.05 Billion), which shows an increase of nearly Rs. 1,450 crores over the previous financial year.

It may be mentioned here that the turnover of GCMMF has almost doubled in past three years. The group turnover of GCMMF and its 13 member dairy co-operatives has touched a whopping mark of Rs 10,000 crore. GCMMF’s growth has come from all its major products as well as from all geographical regions of the nation. The milk procurement of GCMMF grew by 15 per cent to reach a peak of 110 lakh ltrs per day during last winter.

“This impressive growth in milk procurement is attributed to the remunerative prices being paid out to the farmers consistently year after year ” said BM Vyas, managing director, GCMMF.