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Amul becomes 1st Indian Dairy Company to Enter Rabobank’s Global Top 20, 2020 List; Switzerland’s Nestle topped

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Amul becomes first Indian dairy companyAmul (Anand Milk Union Limited), Gujarat Cooperative Milk Marketing Federation (GCMMF) became the first Indian Dairy Company to enter Rabobank’s Annual listing of Global Dairy Top 20, 2020 Companies. Amul was ranked 16th with an annual turnover of USD 5.5 billion (approximately Rs 40,240 Crores). Switzerland’s Nestle topped the list.

Rabobank is a Dutch multinational banking and financial services company.

Key Points:

i.Amul has experienced a 17% Compound Annual Growth Rate over the past decade due to growing milk collections, expanding into processing capacity, entering new markets and launching new products.

ii.Switzerland’s Nestle topped the list with a turnover of USD 22.1 Billion, followed by France’s Lactalis with USD 21 Billion turnovers.

iii.Several factors like Exchange Rate Fluctuations, modest commodity price appreciation, and limited organic growth in major dairy categories have contributed to the relatively modest gains in the Combined Turnover of the Global Dairy Top 20.

About AMUL

i.Gujarat Cooperative Milk Marketing Federation (GCMMF) is India’s largest food product marketing organization with an annual turnover of USD 5.1 Billion in 2019-20. 

ii.It is an apex organization of Dairy Cooperatives of Gujarat, it aims to provide remunerative returns to the farmers and also serve the interest of consumers by providing quality products.

iii.It is based out of Anand, Gujarat, India. Its tagline is “The Taste of India”.

iv.Managing Director- RS Sodhi.

Note – India is the World’s Largest Milk Producer, with 22 per cent of global production according to the Food & Agricultural Organization (FAO) of the United Nations.