GCC eyes Rs 228cr turnover

Girijan Cooperative Corporation Limited (GCC) is targeting a turnover of Rs 228 crore during 2006-07.

During 2005-06, GCC had set a target of Rs 300 crore turnover but failed to meet it as unfavourable weather resulted in drastic fall in the yield of forest produce like tamarind, amla and pungamia. The corporation ended up with a turnover of Rs 194.48 crore in 2005-06, Prem Chand, vice-chairman and managing director of GCC, told mediapersons here on Thursday.

The corporation registered a turnover of about Rs 160 crore for the year 2004-05.

He said the corporation was optimistic about good business growth in 2006-07. It was expecting Rs 166 crore sales through domestic depots and Rs 15 crore sales through the retail market division in FY 06-07, as against Rs 151 crore and Rs 8.41 crore registered respectively in 2005-06.

For the year 2006-07, GCC has earmarked Rs 38 crore for purchase of minor forest produce as well as agricultural produce as against Rs 28.5 crore in the previous year.

Prem Chand said the corporation had earmarked Rs 4 crore to disburse as loans among tribals in the district as against Rs 3.35 crore in the previous year. At the same time, GCC has set a loan recovery target of Rs 5 crore for the current fiscal.

The corporation is also planning to procure surplus agricultural produce from tribal farmers to prevent them from resorting to any distress sale. For this purpose, is mulling tie-ups with institutions like AP Forest Development Corporation (for coffee seed), Nafed (for soya/French beans and Niger seed), and AP Oilfed (oil seed) besides stepping up sale of different items in consumer packs in the retail market.

It also plans to intensify procurement of medicinal plants and herbs from tribals, which could generate additional income of about Rs 5 crore during this year, he added.

As part of its plans to tap the export market, GCC has already undertaken trial orders for minor forest produce in the organic form and is all set to sign MoUs during the current financial year with export houses and agencies in the countries like Malaysia and the US.

T Ratna Bai, chairman of GCC, today unveiled the corporation's 2006-07 annual action plan.