Business Daily from THE HINDU group of publications
Monday, October 15, 2007
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Business Daily from THE HINDU group of publications Monday, October 15, 2007 |
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News Update as at 18.00 hrs (IST)
Agri-Business Lakshmi Overseas arm set to enter contract farming CHENNAI: Lakshmi Overseas Industries Ltd has announced that Punjab Greenfield Resources Ltd (PGRL), a wholly owned subsidiary, would be entering contract farming of wheat, seed production and extension services. PGRL is in the process of procurement of cotton and is finalising agreements with farmers to mop best quality kinnows during the month. PGRL has invited offers from interested farmers of Punjab to undertake contract farming of wheat on 2,000 acres to be grown under professional and scientific guidance of PGRL. Seeds, fertilisers and pesticides will be provided on subsidised basis from PGRL and advances to the farmers could be arranged through a nationalised bank. Wheat produced under contract farming by PGRL will carry minimum yield guarantee and prices to be paid to farmers by PGRL under the prescribed agreement. Farmers will be paid prevailing market prices of wheat at the time of sale to PGRL. - Our Bureau
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