RAJFED announces 10 per cent dividend to societies

Rajasthan State Cooperative Marketing Federation (RAJFED) today announced to pay a ten per cent of dividend to its societies after earning net profit of Rs 6.61 crore during the fiscal year 2014-15.
RAJFED had earned a double profit of Rs 6.61 crore in 2014-15 as compared to the fiscal year 2013-14 when the profit was about Rs 3.50 crore, addressing the 58th annual general body meeting of RAJFED here, its Adminstrator and Principal Secretary of Cooperative Department Deepak Upreti said here.
Ten per cent dividend from the profit would be paid to the over 200 societies, quoting him an official spokesman said.

In the stipulated fiscal year (2014-15), RAJFED has made a business of Rs 1,127.74 crore which included purchase of agriculture commodities on support price, he said.
For the next fiscal year 2016-17, RAJFED had projected a buying target of agriculture commodities to the tune of Rs 403.30 crore, he said, adding about 98,500 tonnes of agriculture commodities would be bought as per the target.
With the support of Japan, RAJFED had planned production of insecticides and marketing through cooperative societies, he said.