Saturday, September 27, 2014

Sikkim Milk registers 22% growth

Sikkim Milk Union has posted profits for the seventh consecutive year. This welcome news was shared with shareholders at the 18th Annual General Body Meeting of the Sikkim Cooperative Milk Producers Union Ltd on Thursday, 25 September, held at the conference hall of the State Institute of Capacity Building at Karfectar, Jorethang.
Managing Director Dr. P. Senthil Kumar presented the audited annual accounts for the year 2013-14 and the business development plan and future plans of the Sikkim Milk Union at the meeting. Posting a turnover of Rs. 3733 lakhs, Sikkim Milk Union has seen its kitty grow by 22.19% in a year [Rs. 3055 lakhs in 2011-12]. Through the lucrative seven years, milk price to the farmers has grown by over 173% with revision of only 112.50 % increase in selling price.
In the year 2013-14, Sikkim Milk Union managed 357 societies including both registered and unregistered ones and had a membership of 10,205. During the year total milk procured from the village milk cooperatives was a staggering 52,95,817 kg.
The prosperity is being shared around with the farmers and now all the village milk cooperative societies are being provided with testing and cooling facilities and required utensils. All dairy farmers have been provided with 304 SS milk cans and 40L Aluminum cans at subsidized rates and are being provided with Mineral Mixtures, Deworming and Milk Hygienic solution and spray under CMP program.
The Chairman, Sikkim Milk Union, MB Rai, in his address, appreciated the cooperation extended by the village milk cooperative societies and management for the better performance and stressed the need for responsible participation from the village societies to further improve the quality and quantity of milk procured by the societies.
Sikkim Milk Union was incurring losses till 2006-07, through the 28 years of its operations and had an accumulated loss of about Rs. 200 lakhs. From 2007-08 onwards, Sikkim Milk Union started earning profits, an upward graph it is sustaining till date and the benefit of better performance is given as better milk price to the farmers. The milk procurement price was Rs. 8.50 per litre in the year 2007 and is now an average of Rs. 25 per litre. The Union has distributed price difference incentives as bonus to the tune of more than Rs. 150 Lakhs to the farmers in cash and Rs. 8.5 Lakh in the form of shares and in addition to their price and about Rs. 44 Lakh as ex-gratia to the employees as additional incentive to their performance till date.

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