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LATEST NEWS UPDATES | Dairy sector: Indian economy's milch cow -Jyotsna Bhatnagar

Dairy sector: Indian economy's milch cow -Jyotsna Bhatnagar

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published Published on Nov 13, 2018   modified Modified on Nov 13, 2018
-Financial Express

Milk is the largest crop in India in terms of value—at `6.5 lakh crore, it’s more than the total value of paddy and wheat put together

At the recently concluded annual session of the International Dairy Federation’s World Dairy Summit in the scenic city of Daejeon in South Korea, India was the toast of the world. From a largely captive market—despite being the world’s largest milk producer—the country is emerging as a major exporter now, with production poised to outstrip domestic consumption soon.

Brimming with evident pride, India’s representative to the conference RS Sodhi, the managing director of the Rs 40,000 crore Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF)—the cooperative dairy giant better known by the name Amul—exults, “India’s decadal milk production growth, pegged at 4.8% CAGR, is twice that of global milk production, which is growing at 1.8% CAGR. In the past five years, this has improved even more to 5.4% CAGR.”

While world milk production during 2017 stood at 849 MMT (million metric tonnes) or 232 crore litres per day, India alone accounted for almost 20% of this, at 174 MMT, followed by the US with 97.7 MMT. Going ahead, India’s milk production is expected to outperform global production and grow to 185 MMT per annum, and surpass the EU to emerge as the largest dairy producer by 2020.

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Financial Express, 12 November, 2018, https://www.financialexpress.com/opinion/dairy-sector-indian-economys-milch-cow/1378944/


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