Revenue of organised dairy industry likely to grow 14-16% in 2023-24: Crisil Ratings
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Crisil Ratings in its latest report has said that revenue of the organised dairy industry is likely to grow 14-16 per cent in 2023-24, on the back of strong demand for value added products and stable consumption of liquid milk. It said with raw milk supply improving, there will be fewer price hikes and profitability will recover 20-50 basis points.
Crisil Ratings Senior Director Mohit Makhija is expecting that the strong revenue growth in VAP (Value Added Products) seen over the past few years will continue. This fiscal, the segment should grow 18-20 per cent and consequently, the share of VAP in overall revenue could rise to 40 per cent from 35 per cent four fiscals back.
Senior Director also said that given that demand from both retail and institutional segments remained strong, the share of VAP will continue to rise and on the other hand, liquid milk revenue will grow 8-10 per cent this fiscal backed by steady demand.
