You are here: Home » Economy & Policy » News

Nafed to procure 7-lakh tonne pulses for buffer stock

Government is setting up a buffer stock of 20 lakh tonnes of pulses through domestic procurement

 

Agri-cooperative (Nafed) is targeting to procure 7 lakh tonnes of during the and seasons of the 2016-17 crop year to create buffer stock on behalf of the government.

The government is setting up a buffer stock of 20 lakh tonnes of through domestic procurement and imports to intervene in the market to control price rise.

At its annual general body meeting, Chairman said the government has asked it to procure for buffer stocks.

"(National Cooperative Development Corporation) has sanctioned a credit limit of Rs 300 crores for procurement of moong and copra under Price Support Scheme," he said in a statement.

Patel said the government has assured adequate financial support to the organisation to bail-out from the present financial crisis so that co-operative continues serving the interest of the farming community.

had maintained 2500 tonnes of onion in buffer stocks last year and 5000 tonnes during the current year on behalf of the government, he said.

On the financial package, he said the Ministry of has already circulated a Cabinet note to different ministries for their comments and the same shall be placed before the Cabinet very shortly.

managing director Sanjeev Kumar Chadha tabled a detailed account of business activities of the cooperative for the year 2015-16 before the general body.

In 2015-16, had a turnover of Rs 544.18 crores and earned a gross profit of Rs 16.49 crore.

He informed that the government would sanction financial revival proposal of including one time settlement with the lender banks.

"has taken major target of 7 lakh tonnes of during 2016-17 and 2017 season due to which the farmers will be immensely benefitted," Chadha said.

had a turnover of Rs 2,516.38 crore during 2014-15.

There was a gross profit of Rs 20.57 crore, but due to huge interest liability on outstanding loans in tie-up business, there was a net loss of Rs 156.68 crore.

image
Business Standard
177 22
Business Standard

Nafed to procure 7-lakh tonne pulses for buffer stock

Government is setting up a buffer stock of 20 lakh tonnes of pulses through domestic procurement

Press Trust of India  |  New Delhi 

Nafed
Photo of the Nafed headquarters in New Delhi

 

Agri-cooperative (Nafed) is targeting to procure 7 lakh tonnes of during the and seasons of the 2016-17 crop year to create buffer stock on behalf of the government.

The government is setting up a buffer stock of 20 lakh tonnes of through domestic procurement and imports to intervene in the market to control price rise.

At its annual general body meeting, Chairman said the government has asked it to procure for buffer stocks.

"(National Cooperative Development Corporation) has sanctioned a credit limit of Rs 300 crores for procurement of moong and copra under Price Support Scheme," he said in a statement.

Patel said the government has assured adequate financial support to the organisation to bail-out from the present financial crisis so that co-operative continues serving the interest of the farming community.

had maintained 2500 tonnes of onion in buffer stocks last year and 5000 tonnes during the current year on behalf of the government, he said.

On the financial package, he said the Ministry of has already circulated a Cabinet note to different ministries for their comments and the same shall be placed before the Cabinet very shortly.

managing director Sanjeev Kumar Chadha tabled a detailed account of business activities of the cooperative for the year 2015-16 before the general body.

In 2015-16, had a turnover of Rs 544.18 crores and earned a gross profit of Rs 16.49 crore.

He informed that the government would sanction financial revival proposal of including one time settlement with the lender banks.

"has taken major target of 7 lakh tonnes of during 2016-17 and 2017 season due to which the farmers will be immensely benefitted," Chadha said.

had a turnover of Rs 2,516.38 crore during 2014-15.

There was a gross profit of Rs 20.57 crore, but due to huge interest liability on outstanding loans in tie-up business, there was a net loss of Rs 156.68 crore.

RECOMMENDED FOR YOU

Nafed to procure 7-lakh tonne pulses for buffer stock

Government is setting up a buffer stock of 20 lakh tonnes of pulses through domestic procurement

Government is setting up a buffer stock of 20 lakh tonnes of pulses through domestic procurement

 

Agri-cooperative (Nafed) is targeting to procure 7 lakh tonnes of during the and seasons of the 2016-17 crop year to create buffer stock on behalf of the government.

The government is setting up a buffer stock of 20 lakh tonnes of through domestic procurement and imports to intervene in the market to control price rise.

At its annual general body meeting, Chairman said the government has asked it to procure for buffer stocks.

"(National Cooperative Development Corporation) has sanctioned a credit limit of Rs 300 crores for procurement of moong and copra under Price Support Scheme," he said in a statement.

Patel said the government has assured adequate financial support to the organisation to bail-out from the present financial crisis so that co-operative continues serving the interest of the farming community.

had maintained 2500 tonnes of onion in buffer stocks last year and 5000 tonnes during the current year on behalf of the government, he said.

On the financial package, he said the Ministry of has already circulated a Cabinet note to different ministries for their comments and the same shall be placed before the Cabinet very shortly.

managing director Sanjeev Kumar Chadha tabled a detailed account of business activities of the cooperative for the year 2015-16 before the general body.

In 2015-16, had a turnover of Rs 544.18 crores and earned a gross profit of Rs 16.49 crore.

He informed that the government would sanction financial revival proposal of including one time settlement with the lender banks.

"has taken major target of 7 lakh tonnes of during 2016-17 and 2017 season due to which the farmers will be immensely benefitted," Chadha said.

had a turnover of Rs 2,516.38 crore during 2014-15.

There was a gross profit of Rs 20.57 crore, but due to huge interest liability on outstanding loans in tie-up business, there was a net loss of Rs 156.68 crore.
image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard