What is in the store for the Indian dairy market?
The overall milk production in India in the past ten years has seen year-on-year growth, with around 187 million metric tons of the product in 2019, a rise of 6.5% in comparison to 2018. According to FAO, India is the biggest producer of milk in the world, with 22% of all worldwide production.
One of a few Indian producers who managed to tame the outcomes of the pandemic was Amul, India’s key player on the global market. Amul, a co-op of Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF), taking the 8th position in the 2019 ranking of world dairy processors, having moved up by one spot since the previous year with the possibility of entering the podium within 2022. Amul has been able to secure its revenues even during the pandemic, with an estimated revenue increase of 15%. The company ensures that the success is due to their strategy of keeping the delivery schedule unhinged and relocating workers between the facilities to avoid personnel cutbacks.
Even though several small dairies closed down in a clash with the pandemic challenges, bigger companies will allow fulfilling positive forecasts for the Indian dairy market. The projections talk about a raise to a total of 208 million metric tonnes of milk produced from April 2020 until March 2021, with dairy manufacture expected to grow by 10% and be worth $37.58 billion.