Business Daily from THE HINDU group of publications
Monday, Jul 02, 2007
ePaper
Business Daily from THE HINDU group of publications Monday, Jul 02, 2007 ePaper |
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Agri-Biz & Commodities
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Horticulture/Fruits & Vegetables Cadbury India in pact with TN Horticulture Dept
The five-year agreement aims to bring 50,000 acres under cocoa farming, which would provide coconut farmers an additional income of Rs 80 crore a year.
Our Bureau Chennai, July 1 Cadbury India Ltd and the Tamil Nadu Horticulture Department have entered into an agreement to promote cocoa farming as an intercrop through a contract farming and buyback arrangement with coconut farmers. According to a press release from the company, the five-year agreement aims to bring 50,000 acres under cocoa farming, which would provide coconut farmers an additional income of Rs 80 crore a year. The agreement was signed in Tiruchi, the release said. Intercrop
Under the arrangement, cocoa would be promoted as an intercrop in the coconut farms. Cadbury and the Horticulture Commissionerate would identify cocoa farming areas, assist the farmers financially and provide technical inputs and facilitate institutional credit. The farmers would be eligible for a financial assistance of Rs 11,250 a hectare for establishing a new cocoa garden and 50 per cent of the unit cost for micro irrigation facilities. Cadbury India would provide the seedlings at Rs 4 each and buy the cocoa beans at a minimum floor price of Rs 60 a kg. The company will enter into separate agreements with farmers. Coconut farmers
The objective is to augment the income of coconut farmers, the release said. There are over 9 lakh acres of coconut farmers with an average yield of 4,590 nut an acre. Farmers make about Rs 15,000 an acre. With cocoa intercrop the farmers would get about a tonne of bean a hectare, which would mean an additional income of Rs 60,000 a hectare with a net profit of Rs 40,000, according to the release.
More Stories on : Horticulture/Fruits & Vegetables | Plantations
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