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A group of farmers in Karur district have formed a company, stated to be the first of its kind in Tamil Nadu, with the objective of getting remunerative prices for farming community and quality produce for consumers.
With a paid up capital of Rs 9.90 lakh and 120 equity shareholders, the Nachalur Farmers Producers Company Ltd, registered under the Companies Act 1956, has come into being at Nachalur village, a release said today.
To start with, the company would set up a seed processing unit to supply quality seeds to farmers for undertaking System of Rice Intensification method of paddy cultivation.
The National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 23 lakh loan to the company for establishing the seed processing unit.
District Collector S Jayandhi, who inaugurated the company, lauded the effort saying farmers had joined hands to overcome prevailing difficult situation.
They could now concentrate on improving their economic condition in a more diverse manner than just raw agriculture.
The company had already bagged the dealership for Nagarjuna Fertilisers and was all set to distribute fertilisers and pesticides to farmers in the region at low profit margin, its Managing Director G Karikalan, a farmer himself, said.
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