GCMMF, which owns Amul, said the order will “curb the menace of online frauds impersonating the Amul brand
"The group turnover of GCMMF and its constituent member unions, representing consolidated turnover of all products sold under Amul brand is exceeding Rs 52,000 crore or USD 7 billion. GCMMF aims to achieve a group business turnover of Rs 1 lakh crore by 2024-25," it said in a statement after the 42nd AGM held at Anand.
Gujarat Co-operative Milk Marketing Federation, which markets its products under the brand Amul, clocked revenues of Rs 38,550 crore in FY20.
Five new brands joined the billion CRP club this year: Dabur, Vim, Sunfeast, Brooke Bond and Patanjali
Amul Managing Director RS Sodhi was surprised at the action taken by Twitter, without any intimation to the company
Ice cream has not considered an essential commodity. So, during the lockdowns, there was neither manufacturing nor transportation of ice cream.
The household consumption of milk and other dairy products is expected to rise and will compensate any temporary loss of sales caused by closure of hotels, restaurants and cafeterias (HoReCA segment) during the ongoing lockdown period, said R S Sodhi, the managing director of Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF).
Subsidies threaten an industry that can single-handedly change the fortunes of millions of dairy farmers in the country.
Devendra Shah, Chairman, Parag Milk Foods, said: "We have seen an increase in orders across all categories due to higher stocking by consumers for food items and this is likely to continue for some time."
Crisil said milk prices began moving up in May 2019, with Gujarat Cooperative Milk Marketing Federation (GCMMF, better known as Amul) and Mother Dairy hiking the maximum retail price of their full-cream milk pouches by Rs 2 per litre.
Sodhi said he expects 10-15 percent decline in global milk prices due to the coronavirus outbreak.
"It is surprising to note that CII is proposing to import SMP (skimmed milk powder) at Zero duty and that too huge quantity of 50,000 tonnes," Amul MD R S Sodhi said in a letter to food processing secretary Pusha Subrahmayam.
The Gujarat Cooperative Milk Marketing Federation (Amul) and the National Dairy Development Board (Mother Dairy) have raised the maximum retail price of their milk by Rs 2 per litre.
The hike was made with an aim to sustain remunerative milk price to our milk producers and to encourage them for higher milk production," the company said
However, there will be no change in price of Amul Shakti which continues to be available at Rs 25 per 500 ml.
In May, Amul increased milk prices by Rs 2 per litre
The Food Safety and Standards Authority of India on August 28 said it has sent notice to dairy major Amul for "disparaging" the fortified milk segment.
Milk is being procured from Gujarat and other parts of Maharashtra to meet the additional demand
In terms of pricing, the cookies are priced at Rs 10 for a 40-gram pack. Competitors like Britannia sell ‘Good Day’ butter cookies at Rs 5 for a 39-gram pack. Parle sells its 20-20 butter cookies at Rs 20 for a 150-gram pack.
The GCMMF has recorded a sales turnover of Rs 33,150 crore for the financial year 2018-19, which is 13 per cent higher than the previous financial year.
The new price will come into effect from May 21 onwards and on all six brands being sold in major markets of Delhi-NCR, Gujarat, West Bengal, Kolkata, Uttaranchal, Maharasthra and other states.
The company is already on track to achieve the earmarked target as it registered a 22% increase in turnover in April
Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets dairy products under Amul brand, exports around Rs 200 crore worth of products annually to the neighbouring country.
The Dudhsagar Dairy is one of the 18 member-unions of federation, the apex body to market milk and milk products produced by these district unions.
'The claims are misleading by exaggeration,' it said and asked the advertiser to take corrective steps or pull out the ad.