October 16, 2023

 

Sri Lanka's milk production set to benefit from new joint venture with Indian organisation

 

 

 

India's National Dairy Development Board (NDDB) and GCMMF will acquire a majority stake in a new joint venture company in Sri Lanka to help the nation boost its milk production.

 

The agreement for the joint venture was signed during the visit of India's External Affairs Minister to Sri Lanka. As part of the deal, NDDB and Amul will help the country modernise its dairy plants and scale up milk production.

 

NDDB chairman Meenesh Shah wrote on X, formerly known as Twitter: "Truly a privilege with a greater sense of responsibility - a landmark agreement signed between shareholders committed to ensuring transformation of the Sri Lankan dairy sector with scientific measures & efficient operations."

 

According to local media reports, Sri Lankan President Ranil Wickremesinghe mulls the incorporation of dairy farms currently managed by MILCO, a government-owned organisation, along with its brand, Highland, into the joint venture.

 

GCMMF vice chairman Valamji Humbal was quoted as saying NDDB and GCMMF will jointly hold a 51% stake in the new venture, Desi Gujarat reported.

 

The joint venture is expected to increase Sri Lanka's national milk production by 53% in five years and double milk production in 10 years.

 

Both NDDB and GCMMF will improve the productivity of the Sri Lankan dairy system by enabling the use of modern technology, equipment and best practices in dairy and associated sectors, achieving digitalisation in the dairy sector, improving the productivity of fodder and pasture cultivation and the cattle feed industry, and improving animal health through accessible veterinary care practices.

 

- Indian Cooperative

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