Ahmedabad, Apr 2: Asia's largest dairy Gujarat Cooperative Milk Marketing Federation (GCMMF) that markets dairy products under ‘Amul' brand today indicated that its milk prices could soon go up by Re 1 to 2 per litre soon.
“With rising inflation, we need to compensate the farmers as well. But the price hike this time would not be as steep as it was in the last two years,” GCMMF Managing Director R S Sodhi said.
GCMMF which supplies milk to major cities in the country had raised milk prices by about 15 per cent in the last financial year.
The milk prices have risen to over Rs 38 per litre from Rs 20-22 per litre, around three years back.
In the last three years, the remuneration paid to farmers supplying milk to GCMMF has gone up by 50 per cent.
Meanwhile, the federation has clocked turnover of nearly Rs 11,660 crore in 2011-12, Sodhi said on the sidelines of launch of Amul PRO targeted at children.
With the launch of this brand, Amul announced its foray into an estimated Rs 3,000 crore Indian milk additive beverage market.
Amul is targeting a 10 per cent market share in first year of launch, competing with chocolate flavoured brands of multinationals like Bournvita, Boost.
“With this launch we shall be challenging the MNC's in India. We aspire to get 10 per cent of market share in the first year of launch, of the estimated Rs 3,000 crore milk additive beverage market,” Sodhi said.