Amul features second in top 300 cooperatives

World: the International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (Euricse) launched the 2022 edition of the World Cooperative Monitor.

Gujarat-based dairy cooperative giant GCMMF, which sells its products under Amul, has secured the 2nd position in the world’s top 300 cooperatives. The ranking is based on the turnover ratio over the gross domestic product (GDP) per capita.

India’s cooperative giant Amul secured the first position. France-based Groupe Credit Agricole and Brazil-based Sistema Unimed have gained third and fourth positions, and Germany-based Rewe Group secured the fifth position.

More than 16 million milk producers pour their milk into 18 lakh dairy cooperative societies across the country. Their milk is processed in 222 district cooperative milk unions and marketed by 28 state marketing federations, ensuring a better life for millions.

Amul’s turnover is more than Rs 61,000 crore, and it ranked as the 8th largest dairy organization in the world. It added another Rs. 8000 crores to its group turnover in 2021-22, growing even faster than its 12-year compounded average growth rate on the back of a rapid post-pandemic recovery in out-of-home consumption and demand from restaurants, catering, travel and hospitality segment.

The World Cooperative Monitor is a project designed to collect robust global economic, organizational, and social data about cooperatives. It is the only report collecting annual quantitative data on the global cooperative movement. 2022 marks the eleventh edition of this annual research report produced by the ICA with the scientific and technical support of the European Research Institute on Cooperative and Social Enterprises (Euricse).