Top Section
Explore Business Standard
Don’t miss the latest developments in business and finance.
Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), which sells dairy products under the 'Amul' brand, is expecting double-digit growth in revenue during this fiscal on strong demand, its MD Jayen Mehta said. GCMMF had seen a demand of nearly Rs 60,000 crore last year. GCMMF's turnover increased 8 per cent in the 2023-24 financial year to Rs 59,445 crore. In an interview with PTI, Mehta said the co-operative has witnessed growth in demand across all product categories, including fresh milk, cheese and ice cream, during the first eight months of the current 2024-25 fiscal. "We are expecting a double-digit growth in the turnover," he said when asked about the revenue outlook for the full financial year. Mehta said the GCMMF handled 310 lakh litre of milk per day on average during the last fiscal. It has a total annual milk processing capacity of around 500 lakh litre. On the expansion plan, he said the GCMMF had announced plans to invest Rs 11,000 crore to expand its capaci
Union Cooperation Minister Amit Shah on Saturday said the Centre has set a target to have a co-operative bank and a milk producers' union in each district of the country and also establish in the next five years multipurpose primary agriculture credit societies (PACS) in two lakh panchayats that have no cooperative institution. Addressing the 'Sahkar se Samriddhi' (Prosperity through Cooperation) programme organised to mark the 102nd International Day of Cooperatives, Shah thanked the Gujarat government for announcing a subsidy of 50 percent on Nano-urea and Nano-DAP and said their use will increase production and save the soil. He said the cooperative sector is making very important contribution in the rural and agricultural economy, and urged for the promotion of 'cooperation among cooperative' institutions. "The Union Ministry of Cooperation has taken many important steps. The government has set a target that there should not be any state or district in the country where there is
Watching the restored version of the 1976 film Manthan reminds one of the Emergency but also gives hope for a renewed democracy
The government on Tuesday asserted that there is no shortage of milk and other dairy products in the country, although milk prices have risen in recent months. Animal Husbandry, Fishery and Dairying Minister Parshottam Rupala, while briefing media on the Modi government's achievements in the last nine years, said the sector is likely to grow at 7 per cent in 2023-23 fiscal against over 6 per cent in 2022-23. "I will definitely admit that there has been an increase in milk prices...Government is trying its best to address the problem by increasing milk production and availability," he said. Leading milk suppliers like Amul and Mother Dairy have hiked prices of milk multiple times in the last one year, citing increasing procurement costs of milk from farmers. For instance, Mother Dairy has increased milk prices by Rs 10 per litre between March and December 2022. Stressing that there is no shortage of milk and milk products in the country, Rupala said that recently, there were reports
The Food and Agriculture Organization (FAO) of the United Nations (UN) established World Milk Day in 2001. It is observed annually on June 1st
Bolbola gram panchayat in, Kondagaon district of Chhattisgarh, has scripted a success story in India's white revolution
In the "Pashudhan" tool of Amul's Milk Producers' app, the cattle rearers can upload pictures of their cattle and enter details like the day's milk yield and breed in order to sell them
Higher prices help farmers, but pressure companies to pass the hike on to consumer
Almost 80% of the price an end-consumer pays comes into the hands of the milkman, due to the existence of fewer middlemen and the efficient manner in which it travels from farm to kitchen
For the second time in 11 days, hundreds of farmers on Saturday took to the streets across Maharashtra to press for various demands including an increase in milk procurement prices.
The move follows widespread protests by farmers, whose realisations dropped sharply during sectoral lockdowns
From New India Assurance to insure health workers, Centre disbursing first VRS package for BSNL, MTNL staff to challenges of e-commerce firms, Business Standard brings you top headlines of the day
The amount spent on milk and milk products (M&MP) dropped 10%. While households, hotels, and halwai shops spent Rs 6 trn on M&MP in 2016-17, consumption expenditure reduced to Rs 5.4 trn in 2017-18
To reduce production cost for farmers and effectively use the electricity available, two techies have built a machine to refrigerate milk without power, writes Sneha Bhattacharjee
Around 70 per cent of the 165 million tonnes of milk produced across India in a year is consumed directly in liquid form
A private dairy based in the NCR said the market was flush with SMP and prices had fallen to Rs 150 a kg or so in the domestic market, down by 30 per cent
In a major relief for farmers, the government of Maharashtra has announced Rs 3 increase subsidy to milk farmers by raising its procurement prices from farmers without affecting purchase price for consumers.Average milk procurement in Maharashtra is estimated at 12.3 million litres. Hence, the government would require to bear an additional subsidy burden of Rs 1400 crore annually.In an announcement today, Mahadev Jankar, Minister for Animal Husbandry, Dairy Development and Fisheries Development, Government of Maharashtra, said, "The state government has decided to raise milk procurement prices for farmers by Rs 3 a litre without passing on the increase to consumers. The decision was taken today for the benefit of millions of farmers across the state."With this, the cow and buffalo milk procurement price would go up to Rs 27 a litres and Rs 36 a litre from the existing Rs 24 a litre and Rs 33 a litre respectively. The government, however, has clarified that the procuring dairy farmers .