In FY24, rural consumption beats urban; inequality down
Indicating a slowdown in consumption in urban regions, monthly per capita expenditures (MPCE) have seen a higher rise in rural areas compared to urban areas, a survey by the Statistics Ministry revealed on Friday. However, it highlighted that inequality in rural areas has come down. According to the latest edition of the Household Consumption Expenditure […]
Mother Dairy posts net profit of ₹106 crore in FY24
Mother Dairy and Vegetables Pvt Ltd was back in the black in FY23-24. The packaged dairy and food company posted a net profit of ₹106.27 crore in FY 24, as per its RoC filing sourced from business intelligence platform Tofler. In FY23, the wholly-owned subisidary of NDDB, had posted a net loss of ₹133.32 crore. […]
Milk production annual growth rate slips further to 3.78% in FY24
India’s annual growth rate in milk production has slowed down further to 3.78 per cent in 2023-24, though the country continues to remain the world’s largest producer at 239.3 million tonnes, latest government data showed. The growth rate in milk production was 6.62 per cent in financial year 2017-18 (FY18); 6.47 per cent in […]
GCMMF’s turnover has increased by 8% to Rs 59,445 crore in FY 24
Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), which sells dairy products under Amul brand, on Saturday said its turnover has increased by 8 per cent to Rs 59,445 crore in the financial year ending March 2024 on better sales. “In the Golden Jubilee year of GCMMF, the organization registered a turnover of Rs 59,545 crore […]
Toned milk prices increased by 33% from FY 19 to FY 24
Milk Price increase The average rate of toned milk has increased to Rs 51.83 per litre in the last fiscal year, from Rs 39 per litre in 2018-19, the government said on Tuesday. In a written reply to Lok Sabha, Minister of Fisheries, Animal Husbandry and Dairying Rajiv Ranjan Singh said, “the Department of Animal […]
NANDINI FROM 1974 INCEPTION TO RS 14,018 CRORE IN 2023
Karnataka Milk Federation’s Nandini is not just a brand; it’s a legacy. Born as Karnataka Dairy Development Corporation (KDDC) in 1974, it began its journey with the support of the World Bank. Fast forward a decade, and KDDC transformed into Karnataka Milk Federation (KMF). Over the years, the metamorphosis wasn’t just in name but also […]
Milma’s 2023-24 budget anticipate ₹1.22 crore surplus
The annual general body meeting of the Kerala Co-operative Milk Marketing Federation, known by its brand name Milma, has adopted a growth-oriented budget for 2023-24 pegging the revenue at ₹680.50 crore and expenditure at ₹679.28 crore, anticipating a surplus of ₹1.22 crore during the financial year. The AGM also adopted resolutions covering a wide range of key […]
Retail milk price will increase in FY 24 by 4-5%
The increase is likely as retail milk prices have already risen 10% in a year and 22% in three years. Sharma also notes that poor monsoon and higher fodder prices could further impact milk prices. Prices of retail milk are expected to go up 4-5% year-on-year in FY24 because of dairy processors fail to recover […]