Samunnati, Maha FPO Federation to procure of Onion in Maharashtra
Samunnati, one of India’s largest agri enterprises, and Maha FPO Federation have come together to host farmgate procurement of Onion in Maharashtra. The Maha FPO has received orders from the National Cooperative Consumers Federation of India (NCCF) for 5000 MT of onion and gram, which would be procured from FPOs on its roster.
Samunnati, one of India’s largest agri enterprises, and Maha FPO Federation have come together to host farmgate procurement of Onion in Maharashtra. The Maha FPO has received orders from the National Cooperative Consumers Federation of India (NCCF) for 5000 MT of onion and gram, which would be procured from FPOs on its roster.
Under the program, Samunnati has set up an in-situ loan disbursement team to process and make payment to the FPO and to the farmers for the procurement of this 5000 MT of Onions, instantly under an anchor finance plan to Maha FPO Federation. In addition, 5000 MT Bengal Gram will also be procured under the same program for NCCF, a pressnote said in Pune.
Over 50 FPOs are expected to participate in the program in the districts of Nashik, Pune, and Ahmednagar, where the commodities will be graded and kept for future distribution. This program will in a first provide a platform where an FPO Federation can collaborate with an external agency to provide quick door-to-door credit services to its members.
Speaking about the program N Ganesh, Head of the Lighthouse FPO program from Samunnati said, “Farmer requirement in the context of fresh commodities is all about time and our idea is to create a model where we are able to enable the same by addressing the liquidity need at the speed of light”.
Dr Sanjay Pandhare of Maha FPO which is anchoring the program said, “There are times when the prices are right and commodities are available, but working capital is a challenge. Samunnati’s proposal to process and disburse working capital real-time can become a game changer for the future of F&V farmgate procurement”.
Samunnati will enable the purchase of Onion and Gram worth INR 30 crore on June 7-8 in Pune, Maharashtra. The same program would subsequently be expanded to other Maharashtra districts, the pressnote added.
