Amul Latest news, along with Ambani-Adani, this indigenous company will give sleepless nights to Nestle, Britannia, Coca-Cola and ITC, know what is the plan – amul to push non dairy products want to straddle every food category consumers use in kitchen
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The Rs 61,000-crore Amul brand is owned by the Gujarat Cooperative Milk Marketing Federation (GCMMF). Recently Jayen Mehta has been made its MD in place of RS Sodhi. In his first interview to ET after taking over, Jayen said that dairy is the company’s core business but for growth the company wants to foray into other categories as well. We want to enter every food category that is used by the consumer in the kitchen. The company is moving forward with speed, scale and more investments.
What will the company make
GCMMF manufactures the Amul brand of cheese, milk, ice cream and butter. The company is looking to foray into non-dairy beverages, snacks, pulses, cookies, edible oils, organic foods and frozen foods. Mehta, who has been with the company for over three decades, says this is essential for the company’s growth. On the retail front, the company is setting up ice lounges in the premium ice cream category. “We are not worried about competition as high competition helps in creating products and categories,” he said. We compete with Coca-Cola, Britannia, ITC in many categories.
In November last year, Britannia formed a joint venture with French company Bel SA to manufacture and sell cheese products. Nestle and ITC have announced to increase their presence in the FMCG sector. Ambani and Gautam Adani are also rapidly expanding their business in the FMCG category. Edible oil, pulses, rice, gram flour, flour and semolina etc. are products from Adani Wilmar Fortune brand. Reliance Consumer Products is also rapidly expanding its business in FMCG. The company has launched its FMCG products in Gujarat under the Independence brand.
More employment than Ambani-Adani, earning 90 crores daily… After knowing the name of the company, you will say- Oh, really!
Why increased the price of milk
The price of milk has been increased three times in the last one year. Regarding this, Mehta said that the price of fodder is continuously increasing. Due to this, the cost of the farmers had increased considerably. That is why it was necessary to increase the price of milk. Apart from this, the situation worsened due to unseasonal rains and crop failure. He said that a normal monsoon could keep inflation under control. Amul has increased the price of milk five times since 2021.
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