Markfed net profit at Rs 5.50 crore

By Staff
|
Google Oneindia News

Chandigarh, Apr 21: Markfed, Asia's largest marketing cooperative, has declared a net profit of Rs 5.50 crore during 2006-07 against Rs 4.50 crore previous year through export of Basmati Rice, vegetables and canned food products including sarson ka saag to the US, Canada, Australia, Europe and West Asian countries.

During 2006-07, Markfed Jalandhar canneries under the brand name SOHNA, which produces 'Heat Eat Food Products', earned a profit of Rs 75 lakh against Rs 4.50 lakh during the previous year, said Mr Gurinder Singh Grewal, Managing Director, Markfed.

Markfed during the current season would procure 19.80 lakh million tonnes (MT) of wheat. Besides, Markfed was asked by the state government to procure another 2.50 lakh MT of wheat for providing 'atta' (flour) on subsidised rate of Rs 4 per kg to the needy.

The Markfed will store the flour and deliver it every month as required by PUNSUP for distribution.

The Markfed MD also disclosed that last year Markfed procured 20,000 MT of wheat above the minimum support price (MSP) which was later sold in the market to earn a profit of Rs 2 crore.

During the current season, Markfed proposed to buy 50,000 MT wheat above the current MSP, which would be sold during the lean period.

UNI

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