The Hindu Business Line : Coirfed in recast mode

The ongoing process of restructuring the Kerala State Cooperative Coir Marketing Federation Ltd (Coirfed) will be completed soon, said the Minister for Cooperation and Coir, Mr G. Sudhakaran.

He said here that as a first step in this direction, Coirfed had formed a separate division for selling of coir yarn. Also, Coirfed would directly sell coir mattresses and other coir products.

The Minister said that there had been significant progress, as compared to previous years, in procuring coir from member-societies and selling them. In terms of sale value of procured coir, the federation recorded Rs. 3.90 crore in the first six months of the current year, up from Rs. 2.85 crore last year, he added.

During the first six months of the current year, the turnover was to the tune of Rs 8.16 crore as against Rs 6.76 crore during the first half of the previous year.

The federation was aiming at a total sales turnover Rs 20 crore for the whole of the current year, the Minister said.

He said that the Government was prepared to compensate for any loss suffered by the federation while procuring the coir from the societies.

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