|
| Nafed, Kerala government join hands to import fruits, spices |
| Ajay Modi / New Delhi Nov 10, 2009, 00:04 IST |
|
The National Agricultural Cooperative Marketing Federation (Nafed) is looking for entering into a tripartite agreement with the Cochin International Airport Ltd (CIAL) and Kerala government for exporting spices and perishable goods such as banana, pineapple, and organic vegetable to the Gulf countries, which have a large expatriate population.
“We are in dialogue with both parties. These countries have a sizeable population of non-resident Indians who have a preference for the Indian spices and other perishables,” C V Ananda Bose, MD, Nafed said.
The state horticulture department will encourage cluster plantation of such products in six districts around the Cochin airport, he said. Nafed will use its market intelligence to facilitate export of these commodities. This will ensure better usage of the perishable cargo facilities at the CIAL, he said.
Bose said that currently phytosanitary certification for export purpose is not being done within the airport. However, in order to ensure prompt service and avoid unnecessary delays, the certification will be done at the airport.During the year 2008-2009, the value of commodities exported by Nafed stood at Rs 985 crore. Some of the main commodities exported were rice, onion, wheat and maize.
The federation is aiming to achieve a turnover of Rs 7,000 crore during the current financial year, up from Rs 5,065 crore achieved during 2008-09, through steps such as expansion of its retail chain, enhancing post-harvest services for many horticulture crops, shutting down unviable units or branches and raising service charges for suppliers.
“We plan to substantially enhance our turnover by more than 40 per cent at the end of current financial year and aim for a turnover of Rs 10,000 crore in the next financial year”, Bose said.
Improving fiscal credibility, Nafed, which is reeling under huge interest burdens following its unsuccessful tie-up business launched a few years back, has initiated a host of measures to improve its financial health.
Some of these measures include re-negotiation of existing loans, replacing high interest debts with low interest loans, closure of unviable branches, re-valuation of assets to enhance their credit-worthiness, etc.
Despite making gross profits for the last ten years, the federation is facing a huge financial crunch as its profit is being wiped out owing to significant interest liability because of outstanding loans against the failed tie-up business. Its annual interest liability of Rs 113 crore in the last fiscal wiped out its gross profit of Rs 88 crore.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
