Amul forays into the edible oil segment
12 October 2020
GCMMF, which markets dairy products under the Amul brand, will invest around Rs 1,000 crore over the next two years to set up milk processing plants, and another Rs. 500 crore on facilities for new products like edible oil, it's MD R S Sodhi said.
Sodhi said the Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF) expects 12-15% growth in revenue in the current fiscal year from Rs. 38,550 crore during the last fiscal year despite the COVID-19 pandemic, as demand for branded food products has increased.
He said the processing capacity would increase to 420 lakh litres per day from the current 380 lakh litres per day.
On new businesses, Sodhi said the cooperative has started manufacturing sweets as well as bakery items using dairy fats.
Besides, he said, GCMMF has forayed into edible oil and potato processing segments as part of its objective to boost the income of farmers from Gujarat and other states.
Asked about sales during the pandemic, he said sales of its dairy products like milk, buttermilk, paneer, and ghee were 15% higher during April-August as compared with the year-ago period, driven by rising household consumption of branded food products.