In a partial relief for consumers, Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets dairy products under the Amul brand, has announced a reduction in milk prices by Rs 1 per litre across the country.
However, the reduction in prices is only for one-litre packs.
"We have reduced the prices of one-litre packs by Rs 1 per litre across India," GCMMF managing director Jayen Mehta told PTI.
"This is to encourage consumers to buy larger packs of milk and get incentive for the same," he said.
In Delhi, the rate of Amul Gold milk has been reduced to Rs 67 from Rs 68 per litre while price of Amul Taaza will now be Rs 55 from Rs 56 per litre earlier.
GCMMF's turnover increased 8 percent to Rs 59,445 crore in the 2023-24 financial year.
Mehta had earlier said that the cooperative is expecting double-digit growth in revenue during this fiscal on strong demand.
GCMMF handled 310 lakh litres of milk per day on average during the last fiscal. It has a total annual milk processing capacity of around 500 lakh litres.
GCMMF is the world's largest farmer-owned dairy cooperative having 36 lakh farmers across 18,600 villages of Gujarat and its 18 member unions procure 300 lakh litres of milk per day.
It also ranks 8th among the top 20 dairy companies in the world in terms of milk processing, as per the International Farm Comparison Network (IFCN).
Besides the domestic market, GCMMF is exporting dairy products to about 50 countries.
Last year, GCMMF entered the US market with the launch of four variants of fresh milk to cater to the Indian diaspora and Asian population.
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