#Amul sells 6,000 tonnes of milk products in global online auction

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Amul has sold 6,000 tonnes of products through global online auctions in the past two months, as the country’s biggest dairy brand aims to double exports this fiscal year.
The dairy giant sold skimmed and whole milk powder through international auction platform GlobalDairyTrade.
The platform has a limited number of sellers like Denmark-based Arla Foods, US-based DairyAmerica, Australia’s Murray Goulburn, French company Euroserm and New Zealand’s Fonterra. The venture has reported cumulative sales of $10 billion since its inception in 2008. The auction takes place twice a month.
Amul joined GlobalDairyTrade in April and started taking part in the auctions in June. It is India’s first dairy company to sell products in an international online auction.
«The response is very good. Around 800 buyers participate in the online auction and this ensures a 10-15 per cent better price for us,» said R.S. Sodhi, Managing Director at Gujarat Cooperative Milk Marketing Federation, which owns the Amul brand.
Sodhi said Amul exported products worth Rs 140 crore in the fiscal year ended March 31, 2013. It aims to export products worth Rs 300 crore this fiscal year, he added.
The company also plans to produce fresh milk products like paneer and ghee in New York for sale in the US, Canada and Europe. Currently, Amul exports to these markets from India. Amul will use the facilities of a dairy unit, Summit Milk Products, owned by New Jersey-based NRI businessman Piyush Patel to make these products. The plant will mainly cater to demand from the Indian community and restaurants.
Source:  Business Today

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