Trump Tariffs a Windfall for Dairy Firms, Says GCMMF's Jayen Mehta

The reciprocal tariffs imposed by the US on Indian dairy imports last week may boost market access for major dairy players in neighboring countries, Jayen Mehta, MD, Gujarat Co-operative Milk Marketing Federation (GCMMF), the maker of the Amul brand of products, said in a conversation with FE.

- Viveat Susan Pinto & Sandip Das

GCMMF exports nearly half (₹1,000 crore) of India's total dairy exports of ₹2,300 crore (in FY24) to 35 countries, including the US. Exports to the US constitute about ₹200 crore annually or a fifth of its total exports in terms of value, Mehta said. West Asia, East and South East Asia are the top two markets, at 40% and 25% of its total exports.

"Between the major milk producing blocks in the world including India, US, Europe, Australia and New Zealand, almost every country imports. With the US slapping reciprocal tariffs, there will be retaliatory action by nations, implying market access for US dairy products will reduce, opening up market opportunities for us. I see this as a windfall for dairy companies, since market access could improve by 50%" he said.