Origo Commodities ties up with SBI for credit to farmers

Origo Commodities India today said it has tied up with State Bank of India to offer post-harvest credit facility to farmers across the country against warehouse receipts.
Origo Commodities, which provides post-harvest management solution, currently manages 35 lakh tonnes of agricultural produce across 15 states in 500 warehouses.
"We are pleased to tie up with State Bank of India to reach out to farmers to ensure they understand and avail short-term finance against the warehouse receipts.
"Through the years and our work, we have seen farmers earn close to 15-20 per cent more on their produce by avoiding distress sale," Origo Commodities Director Sunoor Kaul said.

Origo Commodities is an implementation agency mandated by NABARD to promote Negotiable Warehouse Receipts (NWR) at farmers' level through Primary Agricultural Cooperative Societies (PACs) and co-operative banks.
Warehouse receipt financing is an essential financial tool for farmers to avail loans by storing crops in warehouses.
The company said that this segment is expected to grow up to Rs 1 lakh crore in the next five years from Rs 35,000 crore business currently.